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.

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 00423)

DISCLOSEABLE TRANSACTION
IN RELATION TO ACQUISITION OF PROPERTIES

The Board is pleased to announce that on 4 June 2014 and on 20 June 2014 (after trading
hours) respectively, the Purchaser, an indirect wholly-owned subsidiary of the Company,
entered into Agreements with two respective Vendors, pursuant to which the Purchaser
agreed to purchase and the Vendors agreed to sell the Properties at a Total Consideration
of HK$69,780,000.

As the applicable percentage ratio(s) in respect of the Acquisition exceeds 5% but is less
than 25%, the Acquisition constitutes a discloseable transaction for the Company under
Chapter 14 of the Listing Rules and is subject to the reporting and announcement
requirements under the Listing Rules.

The Board is pleased to announce that on 4 June 2014 and on 20 June 2014 (after trading
hours) respectively, the Purchaser, an indirect wholly-owned subsidiary of the Company,
entered into Agreements with two respective Vendors, pursuant to which the Purchaser
agreed to purchase and the Vendors agreed to sell the Properties at a Total Consideration of
HK$69,780,000.

THE AGREEMENTS

1. Provisional Agreement for Sale and Purchase in Relation to Property I

Date: 4 June 2014

Vendor: Texco Holdings Company Limited (“Vendor I”)

To the best of the Directors’ knowledge, information and

belief and having made all reasonable enquires, Vendor I
and its ultimate beneficial owners are Independent Third
Parties.

Purchaser: Safe City Limited

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 Information of the Workshop Nos. 4 (including the Store Room), 5, 6 and 7 on
Property: the 1st Floor of Kodak House II, No. 39 Healthy Street East,
North Point, Hong Kong (“Property I”)

Consideration and The consideration for the acquisition of Property I is

payment schedule: HK$56,000,000 and shall be paid by the Purchaser in the
following manner:

(a) an initial deposit of HK$1,680,000 has been paid by

the Purchaser to Vendor I upon signing of the
Provisional Agreement I;

(b) On 18 June 2014, a further deposit of HK$3,920,000

has been paid by the Purchaser to Vendor I’s solicitors
as stakeholders who may release the same to Vendor I
provided that the balance of the consideration is
sufficient to discharge the existing legal charge or
mortgage of Property I; and

(c) the balance of the consideration of HK$50,400,000

shall be paid by the Purchaser on or before Completion
in the manner stipulated in the Formal Agreement I.

Completion: Completion shall take place on or before 1 December 2014

or a date as shall be agreed by the parties thereto in writing.

2. Provisional Agreement for Sale and Purchase in Relation to Property II

Date: 20 June 2014

Vendor: Macroview Telecom Limited (“Vendor II”)

To the best of the Directors’ knowledge, information and

belief and having made all reasonable enquires, Vendor II
and its ultimate beneficial owners are Independent Third
Parties.

Purchaser: Safe City Limited

Information of the Workshop No. 8 on the 10th Floor of Kodak House II, No. 39
Property: Healthy Street East, North Point, Hong Kong (“Property
II”)

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 Consideration and The consideration for the acquisition of Property II is
payment schedule: HK$13,780,000 and shall be paid by the Purchaser in the
following manner:

(a) an initial deposit of HK$413,400 has been paid by the

Purchaser to Vendor II upon signing of the Provisional
Agreement II;

(b) upon signing of the Formal Agreement II, a further

deposit of HK$964,600 shall be paid by the Purchaser
to Vendor II’s solicitors as stakeholders who may
release the same to Vendor II provided that the balance
of the consideration is sufficient to discharge the
existing legal charge or mortgage of Property II; and

(c) the balance of the consideration of HK$12,402,000

shall be paid by the Purchaser on or before Completion
in the manner stipulated in the Formal Agreement II.

Completion: Completion shall take place on or before 20 August 2014 or

a date as shall be agreed by the parties thereto in writing.

CONSIDERATIONS

The Total Consideration for the Acquisition was determined after arm’s length negotiations
between the Purchaser and the respective Vendors on normal commercial terms with
reference to: (i) the prevailing market prices of properties of similar nature available in the
localities; and (ii) the current Hong Kong property market sentiment.

REASONS FOR THE ACQUISITION

To cope with the future expansion and development of the Group’s business, it is intended
that the Properties will be used as office premises of the Group. The Directors consider that it
is in the interest of the Group to acquire the Properties as office premises in order to save
future rental expenses. Further, to the extent that the Properties are not to be fully utilized by
the Group, they may be leased out on a short-term basis to generate rental income.

The Board considers that the Acquisition and the terms of the Agreements including the Total
Consideration are on normal commercial terms, fair and reasonable and in the interests of the
Group and the Company’s shareholders as a whole. The Total Consideration will be funded
by the Group’s internal resources.

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IMPLICATIONS UNDER THE LISTING RULES

As the applicable percentage ratio(s) in respect of the Acquisition exceeds 5% but is less than
25%, the Acquisition constitutes a discloseable transaction for the Company under Chapter
14 of the Listing Rules and is subject to the reporting and announcement requirements under
the Listing Rules.

INFORMATION ON THE PURCHASER AND THE VENDORS

The Group is principally engaged in publishing, the provision of electronic financial and
property market information services, the provision of training and recruitment advertising
services and the operation of lifestyle portals.

To the best of the Directors’ knowledge, information and belief and having made all
reasonable enquires, Vendor I and Vendor II are principally engaged in the trading of
electronic products and the provision of internetworking solutions respectively.

DEFINITIONS

In this announcement, unless otherwise defined or the context requires, the following
expressions shall have the following meanings:

“Acquisition” the acquisition of the Properties by the Purchaser from the

Vendors pursuant to the terms of the Agreements

“Agreements” Provisional Agreement I and Provisional Agreement II

“Board” the board of Directors of the Company

“Company” Hong Kong Economic Times Holdings Limited (香港經濟日

報集團有限公司), a company incorporated in the Cayman
Islands with limited liability and the Shares of which are
listed on the Stock Exchange

“Completion” the completion of the acquisition of the respective

Properties pursuant to the Agreements

“Director(s)” the director(s) of the Company

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“Formal Agreement I” the formal agreement for sale and purchase to be entered
into between Vendor I and the Purchaser at a date to be
agreed by the parties in relation to the sale and purchase of
Property I

“Formal Agreement II” the formal agreement for sale and purchase to be entered
into between Vendor II and the Purchaser at a date to be
agreed by the parties in relation to the sale and purchase of
Property II

“Group” collectively, the Company and its subsidiaries from time to

time

“HK$” Hong Kong dollars, the lawful currency of Hong Kong

“Hong Kong” the Hong Kong Special Administrative Region of the

People’s Republic of China

“Independent Third individual(s) or company(ies) which is/are independent of

Party(ies)” and not connected with (within the meaning of the Listing
Rules) any member of the Group, the Directors, chief
executive and substantial shareholders of the Company and
its subsidiaries and their respective associates

“Listing Rules” the Rules Governing the Listing of Securities on the Stock
Exchange

“Properties” Property I and Property II

“Provisional Agreement I” the provisional agreement for sale and purchase dated
4 June 2014 between Vendor I and the Purchaser in relation
to the sale and purchase of Property I

“Provisional Agreement II” the provisional agreement for sale and purchase dated
20 June 2014 (after trading hours) between Vendor II and the
Purchaser in relation to the sale and purchase of Property II

“Purchaser” Safe City Limited, an indirect wholly-owned subsidiary of

the Company

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“Shares” ordinary shares of HK$0.10 each in the share capital of the
Company

“Stock Exchange” The Stock Exchange of Hong Kong Limited

“Total Consideration” The total consideration in the sum of HK$69,780,000

payable by the Purchaser to the Vendors for the acquisition
of the Properties pursuant to the terms of the Agreements

“Vendors” Vendor I and Vendor II

By Order of the Board

Hong Kong Economic Times Holdings Limited
Chan Wa Pong
Executive Director and Company Secretary

Hong Kong, 20 June 2014

As at the date of this announcement, the Board comprises: (a) Executive Directors:
Mr. Fung Siu Por, Lawrence, Mr. Mak Ping Leung (alias: Mr. Mak Wah Cheung),
Mr. Chan Cho Biu, Mr. Shek Kang Chuen, Ms. See Sau Mei Salome and Mr. Chan Wa Pong;
(b) Non-executive Director: Mr. Chu Yu Lun; and (c) Independent Non-executive Directors:
Mr. Chow On Kiu, Professor Leung Gabriel Matthew, Mr. Lo Foo Cheung and
Mr. O’Yang Wiley.

This announcement is published on the websites of Hong Kong Exchanges and Clearing Limited
(www.hkexnews.hk) and of the Company (www.hketgroup.com and www.etnet.com.hk/etg).

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