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CM Energy Tech Co., Ltd. — Capital/Financing Update 2018
May 14, 2018
49033_rns_2018-05-14_2d79a9b5-57de-481f-8d18-1556f7a4d462.pdf
Capital/Financing Update
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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.
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TSC Group Holdings Limited
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 206)
SUPPLEMENTAL ANNOUNCEMENT DISCLOSEABLE TRANSACTION: DISPOSAL OF NHR PLANT IN HOUSTON, USA
Reference is made to the announcement of TSC Group Holdings Limited (the “ Company ”) dated 2 May 2018 (the “ Announcement ”). Unless otherwise defined herein, capitalized terms used herein shall have the same meanings as defined in the Announcement.
The board of directors of the Company wish to provide additional information relating to the Disposal as set out below:-
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(i) The NHR Plant was reclassified into “Asset held for sale” in the Company’s financial statements at 31 December 2017 at a valuation of US$6.07 million based on the market value at that date. Subsequently a buyer for the NHR Plant made an offer to purchase the property at this valuation which was accepted by the Company. Therefore, there was no profit or loss arising on sale of the NHR Plant.
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(ii) The NHR Plant was originally acquired for the Company’s own use and was not rented out to any third parties. Therefore there is no profit or loss (before or after taxation) attributable to the NHR Plant for the past two financial years immediately preceding the Disposal.
By order of the Board TSC Group Holdings Limited Wang Hongyuan Executive Chairman
Hong Kong, 14 May 2018
As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Wang Hongyuan, Mr. Jiang Bing Hua and Mr. Zhang Menggui; three non-executive Directors, namely Mr. Lou Dongyang, Mr. Wang Jianzhong and Ms. Li Rong; and three independent non-executive Directors, namely Mr. Chan Ngai Sang, Kenny, Dr. Lu Xiaoming and Mr. Guan Zhichuan.