Century Entertainment International : (1)FULFILLMENT OF ALL THE CONDITIONS OF THE CAPITAL REORGANISATION AND (2)ADJUSTMENTS TO THE OPTIONS

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 only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

(Incorporated in Bermuda with limited liability)

(Stock Code: 959)

(1)FULFILLMENT OF ALL THE CONDITIONS OF

THE CAPITAL REORGANISATION

AND

(2)ADJUSTMENTS TO THE OPTIONS

FULFILLMENT OF ALL THE CONDITIONS OF THE CAPITAL REORGANISATION

All the conditions of the Capital Reorganisation as set out in the Circular have been fulfilled and the Capital Reorganisation will become effective on Wednesday, 3 March 2021.

THE SUBSCRIPTION

Completion of the Subscription Agreement (as supplemented by the Supplemental Subscription Agreement) will take place upon fulfillment of the conditions precedent set out therein on the Completion Date and the Company will make further announcement upon completion thereof together with the principal amount of Convertible Bond to be issued to the Subscriber.

Shareholders and the potential investors should note that completion of the Subscription Agreement (as supplemented by the Supplemental Subscription Agreement) is conditional upon satisfaction of the respective conditions precedent as set out in Subscription Agreement (as supplemented by the Supplemental Subscription Agreement) and therefore, the Subscription may or may not proceed.

Shareholders and potential investors are advised to exercise caution when dealing in the Shares, and if they are in any doubt about their position, they should consult their professional advisers.

References are made to the announcement of Century Entertainment International Holdings Limited (the "Company") dated 30 December 2020 and the circular of the Company dated 5 February 2021 (the "Circular") in relation to, among other things, the Capital Reorganisation and the Subscription, and the announcement of the Company dated 1 March 2021 in relation to the poll results of the SGM held on 1 March 2021. Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Circular.

FULFILLMENT OF ALL THE CONDITIONS OF THE CAPITAL REORGANISATION

The Board is pleased to announce that on 1 March 2021, the Listing Committee of the Stock Exchange granted its approval to the listing of, and permission to deal in, the New Shares. All the conditions of the Capital Reorganisation as set out in the Circular have been fulfilled and the Capital Reorganisation will become effective on Wednesday, 3 March 2021. Please refer to the Circular for the details, including the timetable and trading arrangement of the New Shares and the exchange and replacement of share certificates and odd lot matching services, in respect of the Capital Reorganisation.

ADJUSTMENTS TO THE OPTIONS

Pursuant to the terms and conditions of the Share Option Scheme and the requirements set out in Rule 17.03(13) of the Listing Rules, the exercise price per Option and the number of New Shares to be allotted and issued upon exercise of the outstanding Options will be adjusted as a result of the Share Consolidation, which is part of the Capital Reorganisation. The adjustments as summarised in the table below will take effect on 3 March 2021, being the date on which the Share Consolidation becomes effective:

Date of Grant (day/month/year)

Exercise period (day/month/year)

Immediately before the Capital	Immediately after the Capital
Reorganisation	Reorganisation
Number of	Number of
Existing Shares	New Shares
to be issued Exercise	to be issued Exercise
upon exercise of price per
the Options Existing Share
(HK$)

upon exercise of the Optionsprice per New Share

(HK$)

Directors

05/02/2013

05/02/2013-744,780

1.241

74,478 12.41

04/02/2023

03/03/2014

03/03/2014-1,241,300

1.345

124,130 13.45

02/03/2024

10/03/2015

10/03/2015-993,040

0.701

99,304 7.01

09/03/2025

25/04/2016

25/04/2016-993,040

0.370

99,304 3.70

24/04/2026

01/12/2017

01/12/2017-14,030,000

0.280

1,403,000 2.80

30/11/2027

17/12/2018

17/12/2018-3,050,000

0.200

305,000 2.00

16/12/2028

Date of Grant (day/month/year)

Exercise period (day/month/year)

Immediately before the Capital	Immediately after the Capital
Reorganisation	Reorganisation
Number of	Number of
Existing Shares	New Shares
to be issued Exercise	to be issued Exercise
upon exercise of price per
the Options Existing Share
(HK$)

upon exercise of the Optionsprice per New Share

(HK$)

Eligible employees

05/02/2013

05/02/2013-

04/02/2023

1,551,625

1.241

155,162 12.41

03/03/2014

03/03/2014-

02/03/2024

2,358,470

1.345

235,847 13.45

10/03/2015

10/03/2015-

09/03/2025

2,606,730

0.701

260,673 7.01

25/04/2016

25/04/2016-

24/04/2026

1,606,730

0.370

160,673 3.70

01/12/2017

01/12/2017-

30/11/2027

6,200,000

0.280

620,000 2.80

17/12/2018

17/12/2018-

16/12/2028

10,500,000

0.200

1,050,000 2.00

Service providers

05/02/2013

05/02/2013-

04/02/2023

2,482,600

1.241

248,260 12.41

03/03/2014

03/03/2014-

02/03/2024

2,482,600

1.345

248,260 13.45

10/03/2015

10/03/2015-

09/03/2025

1,241,300

0.701

124,130 7.01

01/12/2017

01/12/2017-

30/11/2027

6,100,000

0.280

610,000 2.80

17/12/2018

17/12/2018-

16/12/2028

8,000,000

0.200

800,000 2.00

66,182,215

6,618,221

Rainbow Capital (HK) Limited, the independent financial advisor of the Company, has certified that the above adjustments of the Options were made in compliance with the Listing Rules and in accordance with the Share Option Scheme.

THE SUBSCRIPTION

Completion of the Subscription Agreement (as supplemented by the Supplemental Subscription Agreement) will take place upon fulfillment of the conditions precedent set out therein on the Completion Date and the Company will make further announcement upon completion thereof together with the principal amount of Convertible Bond to be issued to the Subscriber.

Shareholders and the potential investors should note that completion of the Subscription Agreement (as supplemented by the Supplemental Subscription Agreement) is conditional upon satisfaction of the respective conditions precedent as set out in the Subscription Agreement (as supplemented by the Supplemental Subscription Agreement) and therefore, the Subscription may or may not proceed.

Shareholders and potential investors are advised to exercise caution when dealing in the Shares, and if they are in any doubt about their position, they should consult their professional advisers.

By order of the Board

Century Entertainment International Holdings Limited

Ng Man Sun

Chairman and Chief Executive Officer

Hong Kong, 2 March 2021

As at the date hereof, Mr. Ng Man Sun (Chairman and Chief Executive Officer) and Ms. Ng Wai Yee are the executive directors of the Company; and Ms. Yeung Pui Han, Regina, Mr. Li Chi Fai and Ms. Sie Nien Che, Celia are the independent non-executive directors of the Company.