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DIT Group Limited — Capital/Financing Update 2016
Oct 12, 2016
49427_rns_2016-10-12_47585a01-dc4c-4e60-82c9-30c57b762f0f.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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China Minsheng Drawin Technology Group Limited 中民築友科技集團有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 726)
ANNOUNCEMENT
Reference is made to the announcements made by the Company dated 26 February 2014, 23 May 2014, 22 August 2014, 25 November 2014, 30 December 2014, 2 March 2015 and 7 March 2016 (collectively the “ Announcements ”), which referred to a non-legally binding framework agreement entered into by the Company (as potential purchaser) with Mr. Liu Shu (as potential vendor) relating to a possible acquisition by the Group of certain properties in Shenzhen at a consideration to be determined and a total amount of HK$72 million was paid by the Group to Mr. Liu Shu as earnest money under such framework agreement. As no formal agreement was entered into between the parties by the long stop date of the framework agreement on 25 February 2015, the framework agreement had lapsed pursuant to its terms. Since the lapsing of the framework agreement, the Company has made numerous efforts in demanding for the return of the earnest money from Mr. Liu Shu. The Company would like to announce that the earnest money in the amount of HK$72 million has been refunded to the Group today. Such sum will strengthen the cashflow of the Group and partly will be used to pursue other investment opportunities and partly will be used as general work capital of the Group.
By order of the Board of China Minsheng Drawin Technology Group Limited Yin Jun Chairman and Executive Director
Hong Kong, 12 October 2016
As at the date of this announcement, the Board comprises Mr. Yin Jun (Chairman), Mr. Chen Domingo and Mr. Mi Hongjun as executive directors; Mr. Chen Donghui, Ms. Gan Ping, Mr. Zhao Xiaodong and Mr. Zhou Feng as non-executive directors; Mr. Chan Chi Hung, Mr. Jiang Hongqing, Mr. Lee Chi Ming, and Mr. Ma Lishan as independent non-executive directors.