Conditional Initial Distribution in Specie and Intended Further Distribution in Specie of the Shares of the Company by Controlling Shareholder

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 1097)

Reference is made to the circular dated 12 May 2017 ("Circular") and the supplemental announcement dated 19 May 2017 issued by i-CABLE Communications Limited (the "Company"). Unless otherwise defined in this announcement, capitalised terms used herein shall have the same meanings as defined in the Circular.

As at the date of this announcement, the board of directors of Wharf announced that it had resolved to declare a special dividend in the form of the Initial Distribution in Specie of the 1,485,259,171 Shares currently registered in the names of the Controlling Shareholder Companies (the "Relevant Shares"), and had determined the record date for the intended Further Distribution in Specie of all the Loan Capitalisation Shares (or if the Public Float Requirement could not be fulfilled upon full conversion of the Loan Capitalisation Amount, the first tranche of the Loan Capitalisation Shares). For more details, please refer to the said announcement dated 9 August 2017 issued by Wharf.

The Relevant Shares represent approximately 73.84% of the total number of issued Shares as at the date of this announcement. Upon completion of the Initial Distribution in Specie, the Wharf Group will no longer have any shareholding interests in the Company. Wheelock, the controlling shareholder of Wharf, holds approximately 61.61% of the issued share capital of Wharf as at the date of this announcement. Assuming the number of issued Shares remains unchanged from the date of this announcement until completion of the Initial Distribution in Specie, immediately after completion of the Initial Distribution in Specie, the Wheelock Group will directly hold approximately 45.49% of the then total number of issued Shares. Pursuant to the grant of the Wheelock Waiver by the Executive on 26 May 2017, Wheelock will not be required to make a mandatory general offer for all the Shares in issue and not already owned or agreed to be acquired by it in accordance with the Takeovers Code as a result of the Initial Distribution in Specie.

By order of the Board

Company Secretary

Hong Kong, 9 August 2017

As at the date of this announcement, the Board comprises Mr. Stephen T. H. Ng, Mr. William J. H. Kwan and Mr. Paul Y. C. Tsui, together with four independent non-executive directors, namely, Mr. Herman S. M. Hu, Mr. Roger K. H. Luk, Mr. Sherman S. M. Tang and Mr. Patrick Y. W. Wu.

i-CABLE Communications Limited - Announcement

(9 August 2017)