Century Entertainment International : AGREEMENT IN RESPECT OF THE THIRD PAYMENT DATE IN RELATION TO THE DEED OF SETTLEMENT

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.

(Formerly known as Amax International Holdings Limited 奧瑪仕國際控股有限公司)

(Incorporated in Bermuda with limited liability)

(Stock Code: 959)

AGREEMENT IN RESPECT OF

THE THIRD PAYMENT DATE IN RELATION TO

THE DEED OF SETTLEMENT

Reference is made to the circular of Century Entertainment International Holdings Limited (the "Company") dated 31 May 2018 (the "Circular") in relation to the Deed and the Second Deed in respect of the Promissory Notes and the announcement of the Company dated 23 July 2018 (the "Announcement") in relation to the First Completion and the Second Completion. Unless defined otherwise, capitalized terms used in this announcement shall have the same meanings as those defined in the Circular.

EXTENSION OF THE THIRD PAYMENT DATE

With respect to the First Completion, the Company issued and delivered the Settlement PN in the aggregate sum of HK$50,000,000 to the Holders, out of which the Settlement PN in the principal amount of HK$30,000,000 matured and be due on the Third Payment Date, i.e. 23 January 2020.

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After negotiation, the Company and the Holders agreed to sign an agreement (the "Agreement") to extend the time for payment of the sum of HK$30,000,000 under the Settlement PN on the Third Payment Date. The Company received the duly signed Agreement dated 18 February 2020 on 27 February 2020 with terms as follows:

1. the Company shall pay HK$2,000,000 on the date of the Agreement together with interest on the aggregated sum of HK$30,000,000 at the rate of 10% p.a. from 23 January 2020 to the date of the Agreement;
2. the Company shall pay HK$2,000,000 on 23 April 2020 together with interest on the remaining sum of HK$28,000,000 at the rate of 10% p.a. from the date of the Agreement to 23 April 2020; and
3. the Company shall pay HK$26,000,000 on 23 July 2020 together with interest on the remaining sum of HK$26,000,000 at the rate of 10% p.a. from 23 April 2020 to 23 July 2020.

To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the Holders are Independent Third Parties.

Save as aforesaid, all other provisions under the Deed and all other terms and conditions under the Settlement PN in the principal amount of HK$30,000,000 shall remain unaffected, effective, valid and binding on the parties.

By order of the Board

Century Entertainment International Holdings Limited

Ng Man Sun

Chairman and Chief Executive Officer

Hong Kong, 28 February 2020

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.

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