e30749df-1d84-45a0-b8ee-518d0f181114.pdf

The Board of Directors HWH Holdings Limited


4 March 2015 Dear Sirs,

4°/o coupon convertible bonds in the HK$815,SOO,OOO (the "Bonds") issued by "Company")

aggregate principal amount of Chiho-Tiande Group Limited (the


We refer to the Bonds Issued by the Company on 1March 2012.


As at the date of this letter, HWH Holdings Limited ("HWH") Is the registered holder of the Bonds in the aggregate principal amount of HK$67,600,000 (the "HWH Bonds").


By a letter dated 4 March 2015, HWH acknowledged that the maturity date of the Bonds has been extended to 1 March 2017 (the "Extension"). The Extension is subject to the approval of the independent shareholders (the "Independent Shareholders") of the Company.


In consideration of HWH providing the Company with its confirmation accepting the Extension, the Company hereby irrevocably undertakes that if the approval of theIndependent Shareholders is not obtained on or before 31 July 2015, the Company shall on such date as set out in column (1) below pay such amount (the "Instalment Payments") as is equivalent to the principal amount of the HWH Bonds as set out in column (2) below together with all unpaid interest accrued thereon at 4% per annum from 1 March 2015 up to such date of payment:


Date of payment Principal amount of the Delco Bonds (HK$)


1September 2015

1 December 2015

1 March 2016

1June 2016

1September 2016

1December 2016

1March 2017


Total:

9,650,000

9,650,000

9,650,000

9,650,000

9,650,000

9,650,000

9.700.000

67,600,000


In the event that the Company is in default of its payment obligations as set out above, all theInstalment Payments which remain outstanding together with all unpaid interest accrued thereon shall become Immediately due and payable.


This letter shall be governed by and construed in accordance with the laws of Hong Kong.


1


Yours faithfully,


Director

For and on behalf of

Chlho-Tlande Group Limited


Agre ti and accepted by:

-?,Z:,

Dire tor

For and on behalf of HWH Holdings Limited


Date: 4 March 2015


2

Chiho-Tiande Group Limited issued this content on 2016-01-25 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-25 01:52:03 UTC

Original Document: http://www.chiho-tiande.com/uploadfile/1/20160125/201601250947287.pdf