AP Rentals : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORTS FOR THE YEAR ENDED 31 MARCH 2019 AND THE YEAR ENDED 31 MARCH 2020

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AP RENTALS HOLDINGS LIMITED

亞 積 邦 租 賃 控 股 有 限 公 司*

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 1496)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO

THE ANNUAL REPORTS FOR THE YEAR ENDED 31 MARCH 2019 AND

THE YEAR ENDED 31 MARCH 2020

Reference is made to the annual reports of AP Rentals Holdings Limited for the year ended 31 March 2019 and the year ended 31 March 2020 published on 25 July 2019 and 27 July 2020 respectively (the ''Annual Reports''). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Annual Reports.

The Board would like to provide additional information in relation to the section headed ''Use of Net Proceeds from IPO'' in the Annual Reports in respect of the expected timeline of the use of proceeds pursuant to paragraphs 11(8) and 11A of Appendix 16 of the Listing Rules.

• For identification purpose only

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EXPECTED TIMELINE ON THE UNUTILISED NET PROCEEDS

As disclosed in the Annual Reports, the net proceeds from IPO of the Company (after deducting underwriting fee and relevant expenses) were approximately HK$81.8 million. The table below sets forth the status of the use of net proceeds from IPO as at 31 March 2019 and as at 31 March 2020 respectively, and the expected timeline of the use of the unutilised net proceeds:

									Expected
			Utilised	Utilised		Unutilised	timeline for
	Net		up to	up to		as at	utilising the
	proceeds		31 March	31 March		31 March	unutilised net
	from IPO	2019	2020	2020	proceeds
	HK$'000		HK$'000	HK$'000		HK$'000
Investment in rental equipment	58,242	58,242	58,242		- -
Development of GPS	8,507	2,506	3,627	4,880	By the end of
equipment monitoring system									31 March 2022
Investment in transportation	5,808	4,039	4,039	1,769	By the end of
equipment									31 March 2022
Improvement of facility for	3,517	690	802	2,715	By the end of
maintenance of the Group's									31 March 2022
equipment
General working capital	5,726		5,726	5,726		- -
	81,800		71,203	72,436	9,364

The expected timeline for utilising the unutilised net proceeds is based on the best estimation of the directors of the Company barring unforeseen circumstances, and would be subject to change based on the future development of market conditions.

The above additional information does not affect other information contained in the Annual Reports. Save as disclosed in this announcement, the contents of the Annual Reports remain unchanged.

By Order of the Board

AP Rentals Holdings Limited

Lau Pong Sing

Chairman and Executive Director

Hong Kong, 14 August 2020

As at the date of this announcement, the Board comprises: (1) Mr. Lau Pong Sing and Ms. Chan Kit Mui, Lina as the executive directors of the Company; (2) Mr. Nakazawa Tomokatsu as the non-executive director of the Company; and (3) Mr. Li Ping Chi, Mr. Siu Chak Yu and Mr. Ho Chung Tai, Raymond as the independent non-executive directors of the Company.

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