IBI : DISCLOSEABLE TRANSACTION DISPOSAL OF LISTED SECURITIES IN COMMONWEALTH BANK OF AUSTRALIA

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.

IBI Group Holdings Limited

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1547)

DISCLOSEABLE TRANSACTION

DISPOSAL OF LISTED SECURITIES IN

COMMONWEALTH BANK OF AUSTRALIA

THE DISPOSAL

The Board wishes to announce that on 31 March 2021, the Company, through its wholly- owned subsidiary, IBI Investment Holdings Limited, disposed on the open market a total of 27,200 CBA Shares at an aggregate consideration of approximately AUD2,339,000 (equivalent to approximately HK$13,778,000) (exclusive of transaction costs) at an average price of approximately AUD86.00 (equivalent to approximately HK$506.54) per CBA Share.

As a result of the Disposal, the Group expects to realise a gain of approximately HK$5,371,000, being the difference between the aggregate consideration for the Disposal and the aggregate purchase price of the CBA Shares sold.

As the Disposal was conducted through the open market, the Company is not aware of the identities of the buyers of the CBA Shares. To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the buyers of CBA Shares and their respective ultimate beneficial owners are Independent Third Parties.

THE LISTING RULES IMPLICATIONS

As one or more than one of the applicable percentage ratios for the Disposal, is more than 5% and below 25%, the Disposal constitutes a discloseable transaction of the Company and is therefore subject to the notification and announcement requirements but exempt from the Shareholders' approval requirement pursuant to Chapter 14 of the Listing Rules.

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THE DISPOSAL

The Board wishes to announce that on 31 March 2021, the Company, through its wholly- owned subsidiary, IBI Investment Holdings Limited, disposed on the open market a total of 27,200 CBA Shares at an aggregate consideration of approximately AUD2,339,000 (equivalent to approximately HK$13,778,000) (exclusive of transaction costs) at an average price of approximately AUD86.00 (equivalent to approximately HK$506.54) per CBA Share.

As the Disposal was conducted through the open market, the Company is not aware of the identities of the buyers of the CBA Shares. To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the buyers of CBA Shares and their respective ultimate beneficial owners are Independent Third Parties.

Assets disposed

The CBA Shares disposed of by the Group represented approximately 0.0015332% of the total issued share capital of CBA as at the date of this announcement. Upon the completion of the Disposal, the Group would not hold any CBA Shares.

REASONS FOR AND BENEFITS OF THE DISPOSAL

The principal activities of the Group are as a building contractor focusing on providing renovation services for property projects in the private sector in Hong Kong and Macau.

Based on the recent market prices of CBA Shares, the Directors are of the view that the Disposal represented an opportunity to realise the Group's investments in the CBA Shares so as to enhance the cash flow of the Group.

As a result of the Disposal, the Group expects to realise a gain of approximately HK$5,371,000, being the difference between the aggregate consideration for the Disposal and the aggregate purchase price of the CBA Shares sold. The Directors intend to use the net proceeds from the Disposal as general working capital of the Group.

As the Disposal was conducted at market price of CBA Shares at the time of the Disposal, the Directors are of the view that the Disposal was fair and reasonable, on normal commercial terms and in the interests of the Company and the Shareholders as a whole.

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INFORMATION ON CBA

CBA is a company incorporated in Australia and listed on the market operated by the Australian Securities Exchange (Stock Code: CBA). CBA is principally engaged in the banking industry, providing banking and financial products and services to individual and business customers.

The following audited financial information is extracted from the annual report of CBA for the year ended 30 June 2020:

	Year Ended 30 June
	2020	2019
	AUD' million	AUD' million
Revenue	23,926		23,505
Profit before tax	10,479		11,376
Profit after tax attributable to the shareholders of CBA	9,634		8,571
Net assets	72,013		69,649

LISTING RULES IMPLICATIONS

As one or more than one of the applicable percentage ratios for the Disposal, is more than 5% and below 25%, the Disposal constitutes a discloseable transaction of the Company, and is therefore subject to the notification and announcement requirements but exempt from the Shareholders' approval requirement pursuant to Chapter 14 of the Listing Rules.

DEFINITIONS

In this announcement, unless the context requires otherwise, the following terms shall have the same following meanings as set out below:

''AUD''	Australian Dollars, the lawful currency of Australia
''Board''	the board of Directors of the Company
''CBA''	Commonwealth Bank of Australia, a company incorporated
	in Australia and listed on the market operated by the
	Australian Securities Exchange (Stock Code: CBA)
''CBA Shares''	ordinary shares of CBA
''Company''	IBI Group Holdings Limited, a company incorporated in the
	Cayman Islands with limited liability, the shares of which
	are listed on the Main Board of the Stock Exchange
''Director(s)''	the director(s) of the Company
''discloseable transaction''	as defined in the Listing Rules

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''Disposal''

''Group'' ''HK$'' ''Hong Kong''

''Independent Third Parties''

''Listing Rules''

''percentage ratios'' ''Shareholder(s)'' ''Stock Exchange'' ''%''

Hong Kong, 31 March 2021

the disposal by the Group through a series of transactions on the open market through the Australian Securities Exchange of an aggregate of 27,200 CBA Shares conducted on 31 March 2021 at an aggregate consideration of approximately AUD2,339,000 (equivalent to HK$13,778,000) (exclusive of transaction costs)

the Company and its subsidiaries

Hong Kong dollars, the lawful currency of Hong Kong

the Hong Kong Special Administrative Region of the People's Republic of China

third parties independent of the Company and its connected persons

The Rules Governing the Listing of Securities on the Stock Exchange

as defined in Rule 14.07 of the Listing Rules

shareholder(s) of the Company

The Stock Exchange of Hong Kong Limited

per cent

By order of the Board

IBI Group Holdings Limited

Neil David Howard

Chairman

As at the date of this announcement, the executive Directors are Mr. Neil David Howard and Mr. Steven Paul Smithers; and the independent non-executive Directors are Mr. Richard Gareth Williams, Mr. Robert Peter Andrews and Mr. David John Kennedy.

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