Midland IC&I : PROPOSED ADOPTION OF CHINESE NAME

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Midland IC&I Limited ߕᑌʈਠ⧕Ϟࠢʮ̡*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 459)

PROPOSED ADOPTION OF CHINESE NAME

The Board proposes to formally adopt the Chinese name of "ߕᑌʈਠ⧕Ϟࠢʮ̡" as the dual foreign name of the Company and the English name "Midland IC&I Limited" will remain unchanged.

The Proposed Adoption of Chinese Name is subject to (i) the passing of a special resolution by the Shareholders at the AGM to approve the Proposed Adoption of Chinese Name; and (ii) the Registrar approving the Proposed Adoption of Chinese Name.

A circular containing, among other things, the information in relation to the Proposed Adoption of Chinese Name and a notice of the AGM will be despatched to the Shareholders as soon as practicable.

PROPOSED ADOPTION OF CHINESE NAME

The board (the "Board") of directors (the "Directors") of Midland IC&I Limited (the "Company") proposes to formally adopt the Chinese name of "ߕᑌʈਠ⧕Ϟࠢʮ̡" as the dual foreign name of the Company and the English name "Midland IC&I Limited" will remain unchanged (the "Proposed Adoption of Chinese Name").

CONDITIONS OF THE PROPOSED ADOPTION OF CHINESE NAME

The Proposed Adoption of Chinese Name is subject to the following conditions:

(i) the passing of a special resolution by the shareholders of the Company (the

"Shareholders") at the forthcoming annual general meeting of the Company (the "AGM") to approve, inter alia, the Proposed Adoption of Chinese Name; and

(ii) the Registrar of Companies in the Cayman Islands (the "Registrar") approving the Proposed Adoption of Chinese Name.

*

For identification purpose only

Subject to the satisfaction of the conditions set out above, the Proposed Adoption of Chinese Name will take effect from the date of entry of the dual foreign name of the Company on the register of companies maintained by the Registrar and issuing a Certificate of Incorporation on Adoption of Dual Foreign Name. The Company will carry out all necessary registration and/or filing procedures with the Registrar and the Companies Registry in Hong Kong.

REASONS FOR THE PROPOSED ADOPTION OF CHINESE NAME

The Company had used the Chinese name of "ߕᑌʈਠ⧕Ϟࠢʮ̡" for identification purpose for nearly 15 years since June 2007. Over the years, the Company has been widely referred to by both its English and Chinese names. The Board believes that registering the Chinese name of "ߕᑌʈਠ⧕Ϟࠢʮ̡" as the dual foreign name of the Company in the Cayman Islands and formalizing such use of the Chinese name would be beneficial to the Company and the Shareholders as a whole.

EFFECT OF THE PROPOSED ADOPTION OF CHINESE NAME

The Proposed Adoption of Chinese Name will not affect the rights of any Shareholder or holders of securities of the Company or the Company's daily business operation and its financial position. All existing share certificates of the Company in issue bearing the Company's existing English name as well as Chinese name of "ߕᑌʈਠ⧕Ϟࠢʮ̡" for identification purpose will, upon the Proposed Adoption of Chinese Name becoming effective, continue to be valid evidence of legal title to the Shares and will continue to be valid for trading, settlement, registration and delivery purposes.

Accordingly, there will not be any arrangement for the free exchange of the existing share certificates for new share certificates bearing both the English name and the dual foreign name

• of the Company. Should the Proposed Adoption of Chinese Name become effective, any issue

• of new share certificates thereafter will bear both the English name and the dual foreign name

• of the Company. The stock code of the Company will remain unchanged as "459", and the stock short names of the Company is proposed to remain unchanged as "MIDLAND IC&I" and "ߕᑌʈਠ⧕".

GENERAL

At the AGM to be convened and held, a special resolution will be proposed for the Shareholders to consider and, if thought fit, approve the Proposed Adoption of Chinese Name. A circular containing, among other things, information in relation to the Proposed Adoption of Chinese Name and a notice of the AGM will be despatched to the Shareholders as soon as practicable.

The Company will make further announcement(s) to inform the Shareholders of the results of the AGM, the effective date of the Proposed Adoption of Chinese Name as and when appropriate.

By order of the Board Midland IC&I Limited

MUI Ngar May Joel Company Secretary

Hong Kong, 29 March 2021

As at the date of this announcement, the Board comprises six Directors, of which three are Executive Directors, namely Mr. WONG Kin Yip, Freddie, Ms. WONG Ching Yi, Angela and Mr. WONG Hon Shing, Daniel; and three are Independent Non-Executive Directors, namely Mr. YING Wing Cheung, William, Mr. SHA Pau, Eric and Mr. HO Kwan Tat, Ted.