Hong Kong Education 'l Investments : COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

Hong Kong Education (Int'l) Investments Limited

香 港 教 育（ 國 際 ）投 資 集 團 有 限 公 司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 1082)

COMPLETION OF

PLACING OF NEW SHARES UNDER GENERAL MANDATE

Placing Agent

The Board is pleased to announce that the condition precedent set out in the Placing Agreement had been fulfilled, and completion of the Placing took place on 14 August 2020 in accordance with the terms and conditions of the Placing Agreement.

In accordance with the terms and conditions of the Placing Agreement, the Placing Shares are to be placed by the Placing Agent on a best endeavour basis. An aggregate of 33,500,000 Placing Shares, which represents approximately 5.77% of the issued share capital of the Company immediately after completion of the Placing, has been successfully placed to not less than six Placees, at the Placing Price of HK$0.90 per Placing Share. The net proceeds from the Placing (after deduction of commission and other expenses of the Placing) are approximately HK$29.40 million.

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Reference is made to the announcement of Hong Kong Education (Int'l) Investments Limited ("Company") dated 27 July 2020 ("Announcement") in relation to the Placing. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

COMPLETION OF THE PLACING OF NEW SHARES

The Board is pleased to announce that the condition precedent set out in the Placing Agreement had been fulfilled, and completion of the Placing took place on 14 August 2020 in accordance with the terms and conditions of the Placing Agreement.

In accordance with the terms and conditions of the Placing Agreement, the Placing Shares are to be placed by the Placing Agent on a best endeavour basis. An aggregate of 33,500,000 Placing Shares, which represents approximately 5.77% of the issued share capital of the Company immediately after completion of the Placing, has been successfully placed to not less than six Placees, at the Placing Price of HK$0.90 per Placing Share.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, (i) each of the Placees and, where appropriate, their respective ultimate beneficial owners, is an Independent Third Party; and (ii) none of the Placees has become a substantial Shareholder (as defined under the Listing Rules) of the Company upon completion of the Placing.

The net proceeds from the Placing (after deduction of commission and other expenses of the Placing) are approximately HK$29.40 million which will be utilised as to (i) approximately HK$7.80 million for repayment of other borrowings; (ii) approximately HK$12.00 million for the operation of the private educational services segment; and (iii) the remaining balance of approximately HK$9.60 million as general working capital of the Group.

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EFFECTS ON SHAREHOLDING STRUCTURE OF THE COMPANY

The table below sets out the changes to the shareholding structure of the Company as a result of completion of the Placing:

		Immediately before		Immediately after
Shareholders	completion of the Placing		completion of the Placing
		Number of		Approximate		Number of		Approximate
		Shares	%		Shares	%
The Placees	-		-	33,500,000	5.77
Other public Shareholders	547,570,880	100.00	547,570,880	94.23
Total
547,570,880	100.00	581,070,880	100.00

Note: Certain percentage figures included in the above table have been subject to rounding adjustments. Accordingly, figures shown as totals may not be an arithmetic aggregation of the figures preceding them.

By order of the Board

Hong Kong Education (Int'l) Investments Limited

Tsang Ka Wai

Executive Director

Hong Kong, 14 August 2020

As at the date this announcement, the executive Directors are Mr. Tsang Ka Wai and Mr. Wong King Hoi; and the independent non-executive Directors are Ms. Jor Stephanie Wing Yee, Mr. Leung Ki Chi James and Mr. Fenn David.

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