TIL ENVIRO LIMITED Announces Share Offer Allotment Results

Over-Subscription of Public Offer by 5.32 Times

Offer Price Set at HK$0.58 Per Offer Share

Trading Debut on 29 November 2018

HONG KONG, Nov. 28, 2018 /PRNewswire/ -- TIL Enviro Limited (the "Company"; Stock Code: 1790), a wastewater treatment services provider operating and managing four wastewater treatment facilities located in Yinchuan, being the capital city of Ningxia, the PRC, announced the Public Offer under the listing on the Main Board of The Stock Exchange of Hong Kong Limited was over-subscribed by 5.32 times. The Offer Price has been determined at HK$ 0.58 per Offer Share.

The Company is issuing a total of 250,000,000 Shares in its Share Offer, the total number of the Public Offer Shares is 25,000,000 and that of the Placing Shares is 225,000,000. Based on the Offer Price of HK$0.58 per Offer Share, the net proceeds from the Share Offer to be received by the Company, after deduction of underwriting fees and commissions and estimated expenses payable by the Company in connection with the Share Offer, are estimated to be approximately HK$104.4 million. Dealings in the Shares on the Main Board of The Stock Exchange of Hong Kong Limited are expected to commence on 29 November 2018 (Thursday). The stock code of the Company is 1790. The Offer Shares will be traded in board lots of 5,000 Shares each.

Red Sun Capital Limited is the Sponsor; Opus Capital Limited is the Financial Adviser and the Sole Bookrunner and Sole Lead Manager; Red Sun Capital Limited, Astrum Capital Management Limited and China Yinsheng International Securities Limited are the Co-Managers.

Mr. Lim Chin Sean, Chairman and non-executive Director, said, "We are glad to see the support from investors on the Share Offer which showed the market's overall recognition of the Company's ability and their strong support in our future growth potential. We will continue the operation of our four wastewater treatment facilities and the implementation of our upgrading and expansion works of these existing facilities in a cost-effective and efficient manner, and to strengthen our market position in the wastewater treatment industry in the PRC."

TIL Enviro Limited (Stock Code: 1790)

The Company and its subsidiaries ('the Group") is the leading wastewater treatment services provider in Yinchuan and Ningxia in terms of both the total designed wastewater treatment capacity and the total wastewater treatment volume, during the year ended 31 December 2017. Pursuant to the Concession Agreement, the Group is granted an exclusive right for 30 years since September 2011 to operate and manage four wastewater treatment facilities in Yinchuan. Besides, as an ancillary business, the Group also supplies recycled water to end-users in Yinchuan.

This press release is not for publication or distribution, directly or indirectly, in or into the United States.

Unless otherwise defined herein, capitalised terms in this press release shall have the same meanings as those defined in the prospectus dated 31 October 2018 (the ''Prospectus'') and the supplemental prospectus dated 14 November 2018 (''Supplemental Prospectus'') issued by TIL Enviro Limited (the ''Company'').

This press release is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or subscribe for securities of the Company. Potential investors should read the Prospectus and the Supplemental Prospectus for detailed information about the Company before deciding whether or not to invest in the Shares.

This press release is not for release, publication, distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended from time to time (the ''U.S. Securities Act''). The securities may not be offered or sold in the United States except pursuant to registration or an exemption from the registration requirements of the U.S. Securities Act. There will be no public offer of securities in the United States. The Offer Shares are being offered and sold outside the United States as offshore transactions in accordance with Regulation S under the U.S. Securities Act.

Potential investors of the Offer Shares should note that the Sole Lead Manager shall be entitled to jointly terminate the obligations of the Public Offer Underwriters under the Public Offer Underwriting Agreement in certain circumstances set out in the section ''Underwriting -- Underwriting arrangements, commissions and expenses -- Public Offer -- Grounds for termination'' in the Prospectus, at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected to be Thursday, 29 November 2018).