Morris : COMPLETION OF MAJOR AND CONNECTION TRANSACTION IN RELATION TO THE DISPOSAL OF THE ENTIRE SHARE CAPITAL OF A SUBSIDIARY

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MORRIS HOLDINGS LIMITED ᅉ࢙છٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1575)

COMPLETION OF MAJOR AND CONNECTION TRANSACTION

IN RELATION TO THE DISPOSAL OF

THE ENTIRE SHARE CAPITAL OF A SUBSIDIARY

Reference is made to the announcement dated 8 January 2021, the circular dated 18 February 2021 (the "Circular") made by Morris Holdings Limited (the "Company") in relation to the Disposal which constitutes a major and connected transaction of the Company under Chapter 14 and 14A of the Listing Rules, and the Company's announcement dated 8 March 2021 in relation to the poll results of the extraordinary general meeting of the Company (the "EGM") held on 8 March 2020. Unless otherwise defined or the context otherwise requires, capitalized terms in this announcement shall have the same meanings as defined in the Circular.

The Board is pleased to announce that the Disposal was completed on 9 March 2021 in accordance with the terms and conditions of the Share Purchase Agreement. Following the completion of the Disposal, the Company ceased to own the share capital of the Disposal Company. The share capital of the Disposal Company is now acquired by the Purchaser with the Consideration of US$5.513 million. The Share Charge, as contemplated under the Share Purchase Agreement, was also executed by the Purchaser.

By order of the Board

Morris Holdings Limited

Wu Yueming Executive Director

Hong Kong, 9 March 2021

As at the date of this announcement, the executive Directors are Mr. Zou Gebing, Mr. Zeng Jin, Mr. Shen Zhidong and Mr. Wu Yueming; and the independent non-executive Directors are Mr. Liu Haifeng, Mr. Chu Guodi and Mr.Qian Jun.