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E-Commodities Holdings Limited — Capital/Financing Update 2014
Jun 24, 2014
50127_rns_2014-06-23_e8da62f3-284b-42df-af31-6fa8392d982c.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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WINSWAY COKING COAL HOLDINGS LIMITED 永暉焦煤股份有限公司
(Incorporated in the British Virgin Islands with limited liability)
(Stock Code: 1733)
PLEDGE OF SHARES BY CONTROLLING SHAREHOLDER AND RESUMPTION OF TRADING
This announcement is made by Winsway Coking Coal Holdings Limited (the “ Company ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the Inside Information Provisions (as defi ned in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
The Company has been notifi ed by Mr. Wang Xingchun (“ Mr. Wang ”), the Chairman of the Company and the Company’s controlling shareholder (as such term is defi ned in the Listing Rules), that he is currently engaged in negotiations with an independent third party which is a state-owned enterprise of the People’s Republic of China in relation to a possible pledge and/or sale of shares in the Company indirectly owned by him through his wholly owned companies in favour of such enterprise. It is currently expected that any such pledge or sale would involve 29.9% of the issued shares of the Company. A further announcement will be made by the Company as and when appropriate.
As at the date of this announcement, Mr. Wang is interested in a total of 1,852,484,109 shares of the Company, representing approximately 49.10% of the total issued shares of the Company.
At the present stage, the discussion between Mr. Wang and the independent third party is ongoing. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
TRADING HALT AND RESUMPTION OF TRADING
At the request of the Company, trading in the Shares on the Stock Exchange was halted with effect from 9:00 a.m. on 23 June 2014 pending the release of this announcement. Application has been made by the Company for resumption of trading in the Shares on the Stock Exchange with effect from 9:00 a.m. on 24 June 2014.
By Order of the Board of Winsway Coking Coal Holdings Limited Cao Xinyi Company Secretary
Hong Kong, 24 June 2014
As at the date of this announcement, the executive Directors of the Company are Mr. Wang Xingchun, Ms. Zhu Hongchan, Mr. Yasuhisa Yamamoto, Ms. Ma Li and Mr. Wang Changqing, the non-executive Directors of the Company are Mr. Daniel J. Miller, Mr. Liu Qingchun and Mr. Lu Chuan and the independent non-executive Directors of the Company are Mr. James Downing, Mr. Ng Yuk Keung, Mr. Wang Wenfu and Mr. George Jay Hambro.