Capital VC : COMPLETION OF PLACING AND ISSUE OF CONVERTIBLE BONDS UNDER GENERAL MANDATE

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

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any Shares in the Company.

Capital VC Limited

首 都 創 投 有 限 公 司

(Incorporated in the Cayman Islands with limited liability and carrying on business in Hong Kong as CNI VC Limited)

(Stock Code: 02324)

COMPLETION OF PLACING AND

ISSUE OF CONVERTIBLE BONDS

UNDER GENERAL MANDATE

Placing Agent

Reference is made to the announcements of Capital VC Limited (the "Company") dated 1 September 2020 (the "Announcement") in relation to, inter alia, the placing of convertible bonds under general mandate. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

COMPLETION OF PLACING AND ISSUE OF CONVERTIBLE BONDS

The Board is pleased to announce that all the conditions precedent of the Second Placing Agreement have been fulfilled and completion of the Placing took place on 18 September 2020. Accordingly, the Convertible Bonds with an aggregate principal amount of HK$13,500,000 have been issued by the Company to the Placees on 18 September 2020.

Details of the net proceeds from the Placing and the proposed use of net proceeds were disclosed in the Announcement.

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EFFECT ON SHAREHOLDING

Assuming there is no change in the issued share capital of the Company from the date of this announcement to the time immediately before full conversion of the Convertible Bonds at the Conversion Price, the shareholding structures of the Company (i) as at the date of this announcement; and (ii) immediately after full conversion of the Conversion Bonds are summarised as follows:

					Immediately after full
					conversion of
	As at the date of	the Convertible Bonds at
	this announcement	the Conversion Price
	No. of	Approximate	No. of	Approximate
	Shares	%		Shares	%
Public Shareholders
- Placees	-	-	54,000,000	16.39
- Other Public Shareholders	275,488,249	100.00	275,488,249	83.61
Total	275,488,249		100.00		329,488,249	100.00

By order of the Board of

Capital VC Limited

Chan Cheong Yee

Executive Director

Hong Kong, 18 September 2020

As at the date of this announcement, the Board comprises Mr. Kong Fanpeng and Mr. Chan Cheong Yee as executive directors; and Mr. Lee Ming Gin, Ms. Lai Fun Yin and Mr. Cheung Wai Kin as independent non-executive directors.

The Directors jointly and severally accept full responsibility for accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

In the case of any inconsistency, the English text of this announcement shall prevail over the Chinese text.

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