10:43     SHELL ELECTRIC<00081>-Announcement&Resumption of Trading (6)        

    Pursuant to the terms of the Option, Tigerlily shall                      
    not issue any new shares as shall represent 5% of its                     
    entire issued share capital as enlarged by such issue                     
    without the prior written consent of Equitas. In                          
    addition, any borrowings by Tigerlily that exceed                         
    HK$100,000,000 will be subject to the prior written                       
    consent of Equitas.                                                       
                                                                              
    Equitas is a limited company incorporated in Hong Kong,                   
    the principal activity of which is the provision of                       
    advisory services. Save as being a holder of the                          
    Option (subject to Completion), none of Equitas, its                      
    directors and shareholders is connected with the                          
    Company, its subsidiary, connected persons of the                         
    Company or the Vendor.                                                    
                                                                              
    The allotment of the Option Shares (being shares in                       
    Tigerlily) upon the exercise of the Option will not                       
    affect the shareholding structure of the Company.                         
                                                                              
    INFORMATION ON TIGERLILY AND ITS SUBSIDIARIES                             
    Set out below are the simplified shareholding                             
    structures of Tigerlily prior to and immediately                          
    following the Acquisition:                                                
                                                                              
    Shareholding structure                                                    
    immediately before the Acquisition                                        
                                                                              
    Shareholding structure                                                    
    immediately following the Acquisition                                     
                                                                              
    Notes:                                                                    
                                                                              
    1.      The remaining 20% of the issued share capital of                  
    Jodrell is held by a third party who is and whose                         
    ultimate shareholders are independent of the Company                      
    and its controller (as defined in Rule 14A.10 of the                      
    Listing Rules) before the Acquisition.                                    
                                                                              
    2.      The remaining 30% of the issued share capital of                  
    EB Real Estate is held by a third party who is and                        
    whose ultimate shareholders are independent of the                        
    Company and its controller (as defined in Rule 14A.10                     
    of the Listing Rules) before the Acquisition.                             
                                                                              
    So far as the Directors are aware, the Vendor is a                        
    company incorporated in the British Virgin Islands                        
    with limited liability and is principally engaged in                      
    investment holding.                                                       
                                                                              
    Tigerlily is a company incorporated in the British                        
    Virgin Islands with limited liability and is an                           
    investment holding company. As at the date of this                        
    announcement, Tigerlily is wholly owned by the Vendor.                    
    Tigerlily is the beneficial owner of 80% of the issued                    
    share capital of Jodrell, which in turn owns 70% of                       
    EB Real Estate.                                                           
                                                                              
    Jodrell is a company incorporated in the British                          
    Virgin Islands with limited liability and is an                           
    investment holding company. As at the date of this                        
    announcement, Jodrell is owned as to 80% by Tigerlily                     
    and 20% by an independent third party. Jodrell is the                     
    beneficial owner of 70% of the registered capital of                      
    EB Real Estate, a sino-foreign equity joint venture                       
    established in the PRC. EB Real Estate has invested                       
    in a group of companies engaging in property                              
    development in the PRC, with projects located in                          
    Beijing, Shanghai, Guangzhou and Hefei respectively.                      
    The equity interests held by EB Real Estate in the                        
    six primary projects under development include (i)                        
    95% interest