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01E210330930important 1..1 THE CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult your licensed securities dealer or registered institution in securities, bank manager, solicitor, professional accountant or other professional adviser. If you have sold or transferred all your shares in Carrianna Group Holdings Company Limited (the ‘‘Company’’), you should at once hand this circular and the accompanying form of proxy to the purchaser or to the transferee or to the licensed securities dealer or registered institution in securities or other agent through whom the sale was effected for transmission to the purchaser or the transferee. This circular is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, 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 circular. ✞㴪㤚꥙㎯䫞罇僘꡿⪞⺚ CARRIANNA GROUP HOLDINGS COMPANY LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 00126) (1) CONNECTED TRANSACTION IN RELATION TO THE SUBSCRIPTION OF SHARES UNDER SPECIFIC MANDATE; (2) APPLICATION FOR WHITEWASH WAIVER; (3) RE-ELECTION OF DIRECTOR; AND (4)NOTICEOFSGM Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders A letter from the Board is set out on pages 6 to 20 of this circular and a letter from the IBC containing its recommendation to the Independent Shareholders is set out on pages 21 to 22 of this circular. A letter of advice from the IFA to the IBC and the Independent Shareholders is set out on pages 23 to 59 of this circular. A notice convening the special general meeting of the Company (the ‘‘SGM’’) to be held at 26/F., Wyler Centre, Phase II, 200 Tai Lin Pai Road, Kwai Chung, New Territories, Hong Kong on Tuesday, 1 June 2021 at 11:00 a.m. is set out on pages 138 to 140 of this circular. A form of proxy for use at the SGM is enclosed with this circular. Such form of proxy is also published on the websites of The Stock Exchange of Hong Kong Limited at www.hkexnews.com.hk and the Company at www.carrianna.com. Whether or not you are able to attend the SGM, please complete and sign the enclosed form of proxy in accordance with the instructions printed thereon and return it to the Company’s branch share registrar and transfer office in Hong Kong, Tricor Tengis Limited at Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong as soon as possible but in any event not less than 48 hours before the time appointed for the holding of the SGM or any adjournment thereof. Completion and return of the enclosed form of proxy will not preclude Shareholders from attending and voting in person at the SGM or any adjournment thereof if they so wish. PRECAUTIONARY MEASURES FOR THE SGM In view of an ongoing pandemic of coronavirus disease 2019 (COVID-19) and recent requirements for prevention and control of its spread by the HKSAR Government, the Company will implement the following prevention and control measures at the SGM against the COVID-19 pandemic to protect the Shareholders from the risk of infection: (i) every participant (including Shareholders or their proxies) in the SGM shall be subject to compulsory body temperature check at the entrance of the meeting venue and anyone with a body temperature higher than normal will not be given access to the meeting venue and will be required to stay in an isolated place for completing the voting procedures; (ii) all participants (including Shareholders or their proxies) in the SGM are required to wear surgical face masks at all time during their attendance of the SGM; and (iii) no refreshment will be served, and there will be no corporate gifts. Any person who does not comply with the precautionary measures or is subject to any HKSAR Government prescribed quarantine may be denied entry into the SGM venue. Furthermore, the Company wishes to advise the Shareholders that they may appoint any person or the chairman of the SGM as a proxy to vote on the relevant resolutions, instead of attending the SGM in person. In the interest of all stakeholders’ health and safety and consistent with recent guidelines for prevention and control of the COVID-19 pandemic, the Company reminds all Shareholders that physical attendance in person at the SGM is not necessary for the purpose of exercising voting rights. As an alternative, by using proxy forms with voting instructions inserted, Shareholders may appoint the chairman of the SGM as their proxy to vote on the relevant resolutions at the SGM instead of attending the SGM in person. 10 May 2021 CONTENTS Page Definitions ...................................................................... 1 Letter from the Board ........................................................... 6 Letter from the IBC ............................................................. 21 Letter from the IFA ............................................................. 23 Appendix I – Financial Information of the Group ............................ 60 Appendix II – General Information .......................................... 70 Appendix III – Valuation Report of the properties of the Group ................ 84 Appendix IV – Particulars of Director proposed to be re-elected ................ 137 Notice of SGM .................................................................. 138 – i – DEFINITIONS In this circular, unless the context other requires, the following expressions have the following meanings: ‘‘acting in concert’’ has the meaning ascribed to this term under the Takeovers Code ‘‘Announcement’’ the announcement of the Company dated 8 March 2021 in relation to, among other matters, the Shares Subscription, the Specific Mandate and the Whitewash Waiver ‘‘associate(s)’’ has the meaning ascribed to this term under the Listing Rules ‘‘Board’’ the board of Directors ‘‘Business Day(s)’’ any day (not being a Saturday, Sunday or public holiday in Hong Kong or any day on which a tropical cyclone warning no. 8 or above or a black rainstorm warning signal is issued in Hong Kong at any time between 9:00 a.m. and 5:00 p.m. on weekdays) on which licensed banks in Hong Kong are generally open for business throughout their normal business hours and the Stock Exchange is open for business of dealing in securities throughout its normal trading hours ‘‘Bye-laws’’ the bye-laws of the Company in force from time to time ‘‘Company’’ Carrianna Group Holdings Company Limited（佳寧娜集團 控股有限公司）, a company incorporated in Bermuda with limited liability, the shares of which are listed and traded on the Main Board of the Stock Exchange (Stock code: 126) ‘‘connected person’’ has the meaning ascribed to this term under the Listing Rules ‘‘controlling shareholder(s)’’ has the meaning ascribed to this term under the Listing Rules ‘‘Director(s)’’ director(s) of the Company ‘‘Executive’’ the Executive Director of the Corporate Finance Division of the SFC or any of his delegate(s) ‘‘Group’’ the Company and its subsidiaries – 1 – DEFINITIONS ‘‘Hong Kong’’ Hong Kong Special Administrative Region of the People’s Republic of China ‘‘IBC’’ the independent board committee of the Company comprising Mr. Lo Ming Chi, Charles, Mr. Lo Man Kit, Sam and Mr. Wong See King, being all the independent non-executive Directors formed under the Takeovers Code and the Listing Rules for the purpose of giving a recommendation to the Independent Shareholders on the terms of the Shares Subscription, the Specific Mandate and the Whitewash Waiver and as to voting at the SGM ‘‘IFA’’ or ‘‘Messis Capital’’ Messis Capital Limited, a corporation licensed to carry out Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities under the SFO and the independent financial adviser to the IBC ‘‘Independent Shareholders’’ Shareholders other than (i) the Subscribers, their associates and parties acting in concert with any of them including Mr. John Ma; and (ii) parties involved or interested in the Shares Subscription or the Whitewash Waiver ‘‘Independent Third Party(ies)’’ third party(ies) independent of and not connected with the Company and its connected persons and is not acting in concert (as defined in the Takeovers Codes) with any of the connected persons of the Company or any of their respective associates and are not acting in concert with the Ma Family ‘‘Last Trading Day’’ 5 March 2021, being the last day on which the Shares were traded on the Stock Exchange prior to the release of the Announcement ‘‘Latest Practicable Date’’ 7 May 2021, being the latest practicable date prior to the printing of this circular for ascertaining certain information contained herein ‘‘Listing Rules’’ the Rules Governing the Listing of Securities on the Stock Exchange ‘‘Ma Family’’ Mr. KC Ma, Mr. KY Ma and Mr. John Ma ‘‘Mr. John Ma’’ Mr. Ma Hung Ming, John, the vice-chairman of the Board and an executive Director and the son of Mr. KC Ma – 2 – DEFINITIONS ‘‘Mr. KC Ma’’ Mr. Ma Kai Cheung, the honorary chairman of the Board, an executive Director and a controlling Shareholder, the brother of Mr. KY Ma and the father of Mr. John Ma ‘‘Mr. KY Ma’’ Mr. Ma Kai Yum, the chairman of the Board, an executive Director and a substantial Shareholder and the brother of Mr. KC Ma ‘‘Placing Agent’’ Wings Securities (HK) Limited, a licensed corporation to carry on Type 1 regulated activity under the SFO, the exclusive agent of the Company to the Share Placing ‘‘Placing Shares’’ an aggregate of 125,708,754 new Shares placed pursuant to the Share Placing Agreement and each a ‘‘Placing Share’’ ‘‘RMB50 Million Loan A’’ a loan in the principal amount of RMB50 million provided by Mr.
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