JOINT ANNOUNCEMENT : GRANT OF SHARE OPTION BY LAI SUN DEVELOPMENT COMPANY LIMITED AND LAI FUNG HOLDINGS LIMITED

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

eSun Holdings Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 571)

JOINT ANNOUNCEMENT

GRANT OF SHARE OPTION BY

LAI SUN DEVELOPMENT COMPANY LIMITED

AND

LAI FUNG HOLDINGS LIMITED

This joint announcement is made pursuant to Rule 17.06A of the Listing Rules.

GRANT OF SHARE OPTION BY LSD

The Board of LSD announces that LSD has granted a share option ("LSD Option") to Mr. Tham Seng Yum, Ronald ("Mr. Tham"), an executive director of LSD, under the share option scheme adopted by LSD on 11 December 2015, to subscribe for ordinary shares in the share capital of LSD ("LSD Shares"), subject to the acceptance of Mr. Tham. Brief details of the LSD Option granted are as follows:

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Date of grant	:	19 August 2019
Total number of LSD Shares	:	800,000 LSD Shares ("LSD Option Shares")
comprised in the LSD Option
Exercise price per LSD Option Share	:	HK$9.920
Closing price of the LSD Shares	:	HK$9.920 per LSD Share
on the date of grant
Validity (exercisable) period	:	19 August 2019 to 18 August 2029
of the LSD Option

Pursuant to Rule 17.04(1) of the Listing Rules, the granting of LSD Option to Mr. Tham has been approved by all independent non-executive directors of LSD. As LSD is a 56.07%-owned subsidiary of LSG, the granting of LSD Option to Mr. Tham has also been approved by all independent non-executive directors of LSG pursuant to Rule 17.01(4) of the Listing Rules.

GRANT OF SHARE OPTION BY LFH

The Board of LFH announces that LFH has granted a share option ("LFH Option") to Mr. Tham, an executive director of LFH, under the share option scheme adopted by LFH on 18 December 2012, to subscribe for ordinary shares of HK$5.00 each in the share capital of LFH ("LFH Shares"), subject to the acceptance of Mr. Tham. Brief details of the LFH Option granted are as follows:

Date of grant	:	19 August 2019
Total number of LFH Shares	:	500,000 LFH Shares ("LFH Option Shares")
comprised in the LFH Option
Exercise price per LFH Option Share	:	HK$6.784
Closing price of the LFH Shares	:	HK$6.760 per LFH Share
on the date of grant
Validity (exercisable) period of	:	19 August 2019 to 18 August 2029
the LFH Option

Pursuant to Rule 17.04(1) of the Listing Rules, the granting of LFH Option to Mr. Tham has been approved by all independent non-executive directors of LFH. As LFH is a 50.53%-owned subsidiary of eSun whilst eSun is a 74.62%-owned subsidiary of LSD and LSD is a 56.07%-owned subsidiary of LSG, the granting of LFH Option to Mr. Tham has also been approved by all independent non-executive directors of eSun, LSD and LSG pursuant to Rule 17.01(4) of the Listing Rules.

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DEFINITIONS

In this joint announcement, the following expressions have the following respective meanings unless the context requires otherwise:

"Board"	board of directors;
"eSun"	eSun Holdings Limited (豐德麗控股有限公司), an
	exempted company incorporated in Bermuda with limited
	liability and the issued shares of which are listed and
	traded on the Main Board of the Stock Exchange (Stock
	Code: 571);
"HK$"	Hong Kong dollars, the lawful currency of Hong Kong;
"LFH"	Lai Fung Holdings Limited (麗豐控股有限公司), an
	exempted company incorporated in the Cayman Islands
	with limited liability and the issued shares of which
	are listed and traded on the Main Board of the Stock
	Exchange (Stock Code: 1125);
"Listing Rules"	the Rules Governing the Listing of Securities on the Stock
	Exchange;
"LSD"	Lai Sun Development Company Limited (麗新發展有
	限公司), a company incorporated in Hong Kong with
	limited liability, the issued shares of which are listed and
	traded on the Main Board of the Stock Exchange (Stock
	Code: 488);
"LSG"	Lai Sun Garment (International) Limited (麗新製衣國際
	有限公司), a company incorporated in Hong Kong with
	limited liability, the issued shares of which are listed and
	traded on the Main Board of the Stock Exchange (Stock
	Code: 191); and
"Stock Exchange"	The Stock Exchange of Hong Kong Limited.

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By order of the Board	By order of the Board
Lai Sun Garment (International) Limited	eSun Holdings Limited
Chew Fook Aun	Lui Siu Tsuen, Richard
Executive Director and	Executive Director and
Deputy Chairman	Chief Executive Officer
By order of the Board	By order of the Board
Lai Sun Development Company Limited	Lai Fung Holdings Limited
Chew Fook Aun	Chew Fook Aun
Executive Director and	Chairman
Deputy Chairman
Hong Kong, 19 August 2019

As at the date of this joint announcement,

1. the Board of LSG comprises six executive directors, namely Dr. Lam Kin Ming (Chairman), Dr. Lam Kin Ngok, Peter (Deputy Chairman), Mr. Chew Fook Aun (Deputy Chairman), Madam U Po Chu, Mr. Lam Hau Yin, Lester (also alternate to Madam U Po Chu) and Mr. Lam Kin Hong, Matthew; and three independent non-executive directors, namely Messrs. Leung Shu Yin, William, Lam Bing Kwan and Chow Bing Chiu;
2. the Board of LSD comprises five executive directors, namely Dr. Lam Kin Ngok, Peter (Chairman) and Messrs. Chew Fook Aun (Deputy Chairman), Lau Shu Yan, Julius (Chief Executive Officer), Lam Hau Yin, Lester and Tham Seng Yum, Ronald; two non-executive directors, namely Dr. Lam Kin Ming and Madam U Po Chu; and four independent non-executive directors, namely Messrs. Lam Bing Kwan, Leung Shu Yin, William, Ip Shu Kwan, Stephen and Leung Wang Ching, Clarence;
3. the Board of eSun comprises four executive directors, namely Messrs. Lui Siu Tsuen, Richard (Chief Executive Officer), Chew Fook Aun, Lam Hau Yin, Lester and Yip Chai Tuck; one non-executive director, namely Madam U Po Chu; and four independent non-executive directors, namely Messrs. Low Chee Keong (Chairman), Lo Kwok Kwei, David and Alfred Donald Yap and Dr. Ng Lai Man, Carmen; and
4. the Board of LFH comprises eight executive directors, namely Mr. Chew Fook Aun (Chairman), Dr. Lam Kin Ming (Deputy Chairman), Mr. Lam Kin Hong, Matthew (Executive Deputy Chairman), Mr. Lam Hau Yin, Lester (Chief Executive Officer), Madam U Po Chu, Mr. Cheng Shin How, Mr. Lee Tze Yan, Ernest and Mr. Tham Seng Yum, Ronald; two non-executive Directors, namely Mr. Lucas Ignatius Loh Jen Yuh and Mr. Puah Tze Shyang (also alternate to Mr. Lucas Ignatius Loh Jen Yuh); and five independent non-executive Directors, namely Messrs. Lam Bing Kwan, Ku Moon Lun, Law Kin Ho, Mak Wing Sum, Alvin and Shek Lai Him, Abraham.

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