Vestate : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO MAJOR TRANSACTION ACQUISITION OF 51% ISSUED SHARE CAPITAL OF THE TARGET COMPANY INVOLVING THE ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE AND RESUMPTION OF TRADING

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 securities of the Company.

VESTATE GROUP HOLDINGS LIMITED ਷ҳණྠછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1386)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO

MAJOR TRANSACTION

ACQUISITION OF 51% ISSUED SHARE CAPITAL OF THE TARGET COMPANY INVOLVING THE ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE

AND

RESUMPTION OF TRADING

References are made to the announcements of the Company dated (i) 9 March 2021 (the "Announcement") in relation to the Acquisition; and (ii) 10 March 2021 in relation to the trading halt of the Shares pending on the release of supplementary announcement which constitutes inside information of the Company. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless otherwise stated.

As mentioned in the Announcement, the Company may fail to satisfy the minimum public float requirement under the Listing Rules upon Completion and allotment and issue of Consideration Shares, and the Board wishes to inform the Shareholders that the Purchaser, the Vendor and the Guarantor are currently in the process of negotiating the terms and condition of the supplemental agreement (the "Supplemental Agreement") to the Agreement in respect of the Acquisition to ensure that the minimum public float as required under the Listing Rules is met at all times. The Company will keep its shareholders and investors informed of any significant development regarding the Supplemental Agreement and will make further announcement(s) as and when appropriate in accordance with the Listing Rules.

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RESUMPTION OF TRADING

Trading in the Shares on the Stock Exchange has been halted with effect from 9:06 a.m. on Wednesday, 10 March 2021 pending the release of this supplemental announcement. An application was made by the Company to the Stock Exchange for the resumption of trading in the Shares on the Stock Exchange with effect from 9:00 a.m. on 11 March 2021.

By order of the Board Vestate Group Holdings Limited

ZHU Xiaojun

Chairman

Hong Kong, 10 March 2021

As at the date of this announcement, the Board comprises:

Executive Directors:	Independent Non-executive Directors:
Mr. ZHU Xiaojun	Mr. CHAU Wai Hing
Mr. KANG Jianming	Mr. YU Lei
Ms. CAI Jiaying	Mr. CHAI Guoqiang
Mr. YIN Wansun
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