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CMON Limited — Capital/Financing Update 2015
Aug 3, 2015
50172_rns_2015-08-03_7563c6c0-8138-4cd5-ba0a-abb8877c58b3.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.
瀋陽公用發展股份有限公司 Shenyang Public Utility Holdings Company Limited
(a joint stock limited company incorporated in the People’s Republic of China)
(Stock code: 747)
TERMINATION OF DISCLOSEABLE TRANSACTION
Reference is made to the announcement of the Company dated 12 December 2014 (the “ Announcement ”) in relation to the acquisition of 70% of the issued share capital of Shenzhen Zhong De Logistics Company Limited* (深圳市眾德物流有限公司). Terms defined in the Announcement shall have the same meanings when used herein unless the context requires otherwise.
Pursuant to the Acquisition Agreement, completion of the Acquisition is conditional upon the fulfillment or waiver of the conditions precedent contained thereto in six months upon entering into the Acquisition Agreement. As at the date of this announcement, certain conditions precedent have not been fulfilled or waived. After careful consideration of all the circumstances surrounding the Acquisition and the Company’s rights under the Acquisition Agreement, the Purchaser and the Vendor entered into a termination agreement on 3 August 2015 (the “ Termination Agreement ”) to terminate the Acquisition Agreement with immediate effect.
Pursuant to the Termination Agreement, the Vendor shall refund the consideration of RMB100 million together with the liquidated compensation of RMB2 million to the Purchaser within 30 days upon the signing of the Termination Agreement. The Board considers that the termination of the Acquisition Agreement will not have any material adverse impact on the business and prospects of the Company and the interests of its Shareholders as a whole.
By Order of the Board Shenyang Public Utility Holdings Company Limited Zhang Jing Ming Chairman
Shenyang, PRC 3 August 2015
As at the date of this announcement, the executive directors of the Company are Mr. Zhang Jing Ming, Mr. Deng Xiao Gang and Mr. Huang Zhen Kun, the non-executive directors are Mr. Yin Zong Chen and Ms. Li Yu Xiang and the independent non-executive directors are Mr. Chan Ming Sun Jonathan, Mr. He Qing Jia and Mr. Yu Guan Jian .
- For identification purpose only