MAGNIFICENT (00201), SHUNHO PROPERTY (00219), and SHUNHO HOLDINGS (00253) jointly announced that after market hours on May 10, 2026, the seller, Mercury Fast Limited (a wholly-owned subsidiary of MAGNIFICENT), and the buyer, SHUNHO PROPERTY, entered into a share buyback agreement.

Under this agreement, the seller agreed to sell, and the buyer agreed to repurchase, 68,139,500 SHUNHO PROPERTY shares, representing 11.75% of the total issued share capital of SHUNHO PROPERTY, for a cash consideration of HK$48.1065 million.

The completion of the share buyback is conditional upon the fulfillment and, where applicable, waiver of certain conditions. Upon completion, the sold shares will be transferred to the buyer and held as treasury shares by SHUNHO PROPERTY under the Companies Ordinance.

Following the buyback, the proportionate shareholding of all other SHUNHO PROPERTY shareholders in the issued share capital (excluding any treasury shares) will increase accordingly.

To provide MAGNIFICENT shareholders with an opportunity to realize their indirect investment in SHUNHO PROPERTY, MAGNIFICENT proposes to distribute the proceeds received by the seller from the buyback (after deducting related expenses) as a special cash dividend to all MAGNIFICENT shareholders on a pro-rata basis.

Consequently, MAGNIFICENT intends to seek shareholder approval for this special cash dividend at an extraordinary general meeting of MAGNIFICENT shareholders. Furthermore, the distribution of the special cash dividend is conditional upon the completion of the share buyback.