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DIT Group Limited — Capital/Financing Update 2014
Dec 16, 2014
49427_rns_2014-12-16_4ee78ee7-e458-49a2-a449-6a76b1284cf1.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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(Incorporated in Bermuda with limited liability)
(Stock Code: 726)
UNUSUAL SHARE PRICE MOVEMENT AND CONVERSION OF CONVERTIBLE BOND
This announcement is made at the request of The Stock Exchange of Hong Kong Limited.
The board of directors (the “Board”) of South East Group Limited (the “Company”) has noted today’s increase in the price of the shares of the Company. Having made such enquiry with respect to the Company as is reasonable in the circumstances, save as disclosed herein, the Board confirms that it is not aware of any reasons for such increase in the price of the shares of the Company or of any information which must be announced to avoid a false market in the Company’s securities or of any inside information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance.
Reference is made to the Company’s rights issue prospectus dated 8 October 2014 (the “Prospectus”) and the announcement dated 29 October 2014, in relation to, among others, adjustment to the conversion price of the Convertible Bond (the “Announcement”) as a result of the Rights Issue. Capitalised terms used in this announcement shall have the same meanings as defined in the Prospectus and the Announcement unless otherwise defined.
On 12 December 2014, the Company received a notice from the registered holder of the Convertible Bond (the “Bondholder”) for exercising the conversion rights attaching to the Convertible Bond to convert the outstanding principal amount of HK$ 68,000,000 in full into 425,000,000 Shares at the conversion price of HK$0.16 per Share. The Convertible Bond is beneficially owned by Viva Shine Limited, a company owned as to 50% by Mr. Yu Shengming, the chairman of the Board and an executive Director and 50% by Mr. Wang Guoli. The Company is expected to allot and issue a total of 425,000,000 Shares (“Conversion Shares”) to the Bondholder on or around 17 December 2014. On the assumption that there is no change in the shareholding structure of the Company before the allotment and issue of the Conversion Shares, the number of issued shares of the Company will be increased to 3,709,602,920 Shares upon the allotment and issue of the Conversion Shares. The Conversion Shares to be issued represent approximately 12.94% and 11.46% of the Company’s existing issued share capital and enlarged share capital immediately after the allotment of the Conversion Shares respectively.
* For identification purposes only
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Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.
This announcement is made by the order of the Board. The Board collectively and individually accepts responsibility for the accuracy of this announcement.
By Order of the Board of South East Group Limited Lau Wing Chuen Company Secretary
Hong Kong, 16 December 2014
As at the date of this announcement, the Board comprises Mr. Yu Shengming (Chairman), Mr. Yeung Chun Wai, Anthony (Deputy Chairman), Mr. Mock Wai Yin, Mr. Chan Chi Yuen and Mr. Chen Domingo as executive directors; Mr. Chen Xiaoping as the non-executive director, and Mr. Ng Kwok Wai, Mr. Lee Chi Hwa, Joshua and Mr. Ling Kit Wah, Joseph as independent non-executive directors.
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