[Caihua News] Grand Hotel (00045.HK) announced that the company has received notifications from Kadoorie & Sons Co., Ltd., representing Sir Michael Kadowley and Mr. Philippe Kadowley (including their contacts), and representing a number of major shareholders, stating that they have established certain trust structures/enterprises for the benefit of members of the Kadoorie family (classified as Acorn Holdings Corporation “Acorn” and LawrenciumHoldingsLimited (“Lawrencium”, together with Acorn, collectively referred to as the “Buyer”) and SolisCapitalLimited's “Seller” and its parent company, SeekerSPartners Limited “Securities”, entered into a conditional share purchase and sale agreement on January 13, 2022, according to which the seller agreed to sell (or procure the sale) and the buyer agreed to acquire (i) 185,179,077 shares of the company's “Solis Shares for Sale” held by the seller; and (ii) another 20,132,108 shares (“additional shares for sale”) held by an undisclosed person (“additional shares for sale”) Solis Shares for Sale are collectively referred to as “Shares for Sale”). The purchase price for each share to be sold is HK$12.80. The buyer will buy Solis shares for sale and additional shares to be sold on the day of the conditional sale agreement in proportion to its existing shares in the company.

As of the date of this announcement, the seller and buyer were the main shareholders of the company. The Kadoorie family (which includes the interests associated with the family, but not the interests held by the family's associated charities) held a total of 989,347,304 shares, accounting for 59.98% of the total number of issued shares.

Immediately after completion, the Kadoorie family (including the interests associated with the family but excluding those held by the family's associated charities) held a total of 1,194,658,489 shares, accounting for 72.43% of the total number of issued shares. The seller will no longer hold any shares after the conditional purchase and sale agreement has been completed.