Hanison Construction Holdings Limited (SEHK:896) agreed to spin-off Million Hope Industries Holdings Limited on January 26, 2018. The spin-off will be implemented by a distribution in specie of the entire issued share capital of Million Hope Industries Holdings Limited to the shareholders of Hanison Construction Holdings Limited on the basis of two shares of Million Hope Industries Holdings Limited for every five shares of Hanison Construction Holdings Limited. The deal is subject to approval of the Stock Exchange and the Boards of both Hanison Construction Holdings Limited and Million Hope Industries Holdings Limited and Listing Committee of the Stock Exchange granting the approval for the listing of, and the permission to deal in Million Hope shares on the Main Board of the Stock Exchange.

Hanison Construction Holdings Limited submitted an application to the Stock Exchange for the listing of Million Hope Industries Holdings Limited. As of January 29, 2018, the Stock Exchange agreed in principle to the transaction. As on February 22, 2019, the spin-off has been approved by the Board of Hanison Construction Holdings Limited.

The record date for the distribution is set at March 12, 2019. Reed Smith Richards Butler Limited, Guantao Law Firm and Maples and Calder (Hong Kong) LLP acted as legal advisors to Million Hope Industries Holdings Limited. Deloitte Touche Tohmatsu acted as accountant to Million Hope Industries Holdings Limited.