GR Properties : COMPLETION OF MAJOR AND CONNECTED TRANSACTION - ACQUISITION OF CAPABLE KINGDOM LIMITED AND DISPOSAL OF WHOLLY EXPRESS LIMITED

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GR PROPERTIES LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 108)

COMPLETION OF MAJOR AND CONNECTED TRANSACTION - ACQUISITION OF CAPABLE KINGDOM LIMITED AND DISPOSAL OF WHOLLY EXPRESS LIMITED

Reference is made to (i) the announcements of GR Properties Limited (the "Company") dated 16 July 2019 and 1 August 2019; and (ii) the circular of the Company dated 30 September 2019 (the "Circular") in relation to, among other things, the Acquisition and the Disposal. Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular unless otherwise specified.

The Board is pleased to announce that all the conditions precedents set out in the Agreement have been fulfilled and the Completion took place on 31 October 2019.

By Order of the Board

GR Properties Limited

Wei Chunxian

Chairman

Hong Kong, 31 October 2019

As at the date of this announcement, the executive Directors of the Company are Mr. Wei Chunxian, Mr. Sun Zhongmin, Ms. Liu Shuhua, Mr. Guo Jingsheng, Ms. Huang Fei and Ms. Li Bing; and the independent non- executive Directors of the Company are Mr. Tung Woon Cheung Eric, Ms. To Tsz Wan Vivien and Mr. Au Yeung Po Fung.