Planetree International Development : MAJOR TRANSACTION IN RELATION TO THE SUBSCRIPTION OF SHARES IN THE TARGET COMPANY FURTHER DELAY IN DESPATCH OF CIRCULAR

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PLANETREE INTERNATIONAL DEVELOPMENT LIMITED

梧 桐 國 際 發 展 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock code: 00613)

MAJOR TRANSACTION IN RELATION TO

THE SUBSCRIPTION OF SHARES IN THE TARGET COMPANY

FURTHER DELAY IN DESPATCH OF CIRCULAR

Reference is made to (i) the announcement of Planetree International Development Limited (the "Company") dated 20 May 2019 (the "Announcement") in respect of a major transaction in relation to the subscription of new shares in the Target Company and (ii) the announcements of the Company dated 11 June 2019 and 30 August 2019 in relation to the delay in despatch of the Circular. Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

As stated in the Company's announcement dated 30 August 2019, the Circular containing, among others, further information of the Subscription was expected to be despatched to the Shareholders on or before 30 September 2019.

As additional time is required: (i) to finalise the financial information of the Group together with the Target Company; and (ii) to finalise other information to be included in the Circular, the date of despatch of the Circular is expected to be postponed to a date on or before 1 November 2019.

By order of the Board

Planetree International Development Limited

Tsang Wing Man

Executive Director

Hong Kong, 30 September 2019

As at the date of this announcement, the Board comprises the following members:

Executive Directors	Independent Non-executive Directors
Mr. Lam Hiu Lo	Mr. Chan Sze Hung
Mr. Liang Kang	Mr. Ha Kee Choy, Eugene
Ms. Cheung Ka Yee	Mr. Kwong Kai Sing, Benny
Ms. Tsang Wing Man