Kasen International : SUPPLEMENTAL ANNOUNCEMENT IN RESPECT OF THE FORMATION OF JOINT VENTURE (in PDF)

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KASEN INTERNATIONAL HOLDINGS LIMITED ̔ಌ਷ყછٰϞࠢʮ̡

(An exempted company incorporated in the Cayman Islands with limited liability)

(Stock Code: 496)

SUPPLEMENTAL ANNOUNCEMENT

IN RESPECT OF THE FORMATION OF JOINT VENTURE

Reference is made to the announcement of the Company dated 2 January 2018 in respect of the Formation of Joint Venture (the "Announcement"). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Board would like to provide further information in respect of the Formation of Joint Venture to the shareholders and potential investors of the Company that among the initial capital commitment towards the JV Company of approximately US$27.4 million as stated in the section headed "The JV Agreement - Formation of Joint Venture" in the Announcement, save as the amount of approximately US$500,000 which will be contributed to the registered capital of the JV Company in cash by the parties within 10 business days after the establishment of the JV Company, the remaining balance of approximately US$26.9 million will be contributed by the parties as shareholders' loans to the JV Company in cash by the parties.

All the aforesaid shareholders' loans will have no fixed term and bear an interest rate of 6% per annum which shall be adjusted based on the profit of the Company but in any event, shall not exceed 6% per annum. The shareholders' loans will be repaid by the revenue of the JV Company before any distribution of dividends to the parties.

By Order of the Board

Kasen International Holdings Limited

Zhu Zhangjin

Chairman

PRC, 3 January 2018

As at the date of this announcement, the executive Directors are Mr. Zhu Zhangjin, Ms. Zhou Xiaohong and Ms. Shen Jianhong; and the independent non-executive Directors are Mr. Du Haibo, Mr. Zhang Yuchuan and Mr. Zhou Lingqiang.

Website:http://www.irasia.com/listco/hk/kasen/index.htm