SIIC Environment's major shareholder internal restructuring

SIIC Environment (00807.HK) announced that the board of directors has been informed by the company's controlling shareholder, SIIC Group, that on October 13, the Shanghai Municipal Government proposed to change the registered owner of SIIC Group, the direct controlling shareholder of SIIC, to "Golden Bell International Holdings Limited" (i.e., an internal restructuring proposal).

If the internal restructuring proposal is implemented, "Golden Bell International Holdings Limited" will become the registered owner of all issued shares of SIIC Group immediately after the completion of the internal restructuring proposal, and thus indirectly hold the controlling interest in the company.

Since SIIC Group, Shanghai SIIC, and Golden Bell are all wholly owned by the Shanghai Municipal Government at all significant moments, the ultimate control of the company has always been and will continue to be held by the Shanghai Municipal Government. Therefore, after the completion of the internal restructuring proposal, there will be no change in the ultimate control of the company