CAI Corp — Capital/Financing Update 2015

Nov 24, 2015

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.

CHINA NEW ECONOMY FUND LIMITED 中 國 新 經 濟 投 資 有 限 公 司

(Incorporated in the Cayman Islands as an exempted company with limited liability)

(Stock code: 80)

CLARIFICATION ANNOUNCEMENT

Reference is made to the announcement of China New Economy Fund Limited (the ‘‘Company’’) dated 23 November 2015 (the ‘‘Announcement’’) in relation to, among other things, the Rights Issue of not less than 309,060,000 and not more than 326,573,400 Rights Shares to the Qualifying Shareholders at a subscription price of HK$0.235 per Rights Share on the basis of one (1) Rights Share for every two (2) Shares held on the Record Date. Terms used herein shall have the same meanings as defined in the Announcement unless the context otherwise requires.

The Board wishes to clarify that save as disclosed below and the proposed subscription of new Shares as announced by the Company dated 28 January 2015 which was terminated on 12 March 2015, the Board confirms that there have not been any equity fund raising activities conducted by the Company in the past 12 months immediately preceding the date of the Announcement.

Date of			Intended use of	Actual use of
announcement	Event	Net proceeds	net proceeds	net proceeds
16 July 2015	Placing of	Approximately	Investment in	Used as
	103,020,000 new	HK$38.3 million	line with the	intended
	Shares at a price		Company’s
	of HK$0.385 per		ordinary course
	Share under the		of business
	general mandate

By order of the Board China New Economy Fund Limited Gu Xu

Chairman, Chief Executive Officer and Executive Director

Hong Kong, 24 November 2015

As at the date of this announcement, the Board comprises Mr. GU Xu and Mr. CHAN Cheong Yee as executive Directors, Mr. LAM Chun Ho, Mr. Faris Ibrahim Taha AYOUB and Mr. HUANG Liangkuai as independent non-executive Directors.