i wish i had an account in the cayman islands too! ha! ha! almost 4 billions shares!

Reference is made to the Company’s Discloseable Transaction Announcement made on 18 July 2013. The Company is pleased to announce that on 29 July 2013, the Group reached an agreement with Leighton Contractors (Asia) Limited for the Construction Works for the Company’s Cotai project for a guaranteed maximum price of HK$20,007,640,731 (approximately US$2.57 billion).

IMPLICATIONS UNDER THE LISTING RULES

As one of the applicable percentage ratios calculated under the Listing Rules in respect of the Cotai Construction Agreement based on the guaranteed maximum price exceeds 25% but is less than 100%, the transaction therefore constitutes a major transaction of the Company and is subject to the notification, publication and shareholders’ approval requirements under Chapter 14 of the Listing Rules. The Company is also issuing this announcement pursuant to Rule 13.09 of the Listing Rules and under Part XIVA of the Securities and Futures Ordinance (Cap. 571).

The Company is not required to convene a general meeting for approving the transaction because the Company has obtained written approval of the transaction from WM Cayman Holdings Limited I in lieu of convening a general meeting, as permitted by Rule 14.44 of the Listing Rules. WM Cayman Holdings Limited I owns an aggregate of 3,750,000,000 shares, representing approximately 72.3% of the total issued shares and voting rights of the Company as at the date of this announcement.