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Huitongda Network Co., Ltd. — Share Issue/Capital Change 2016
Feb 29, 2016
14887_rns_2016-02-29_2c7c1806-8f3b-4def-8055-be5269bffcb6.pdf
Share Issue/Capital Change
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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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CMMB VISION HOLDINGS LIMITED 中國移動多媒體廣播控股有限公司 (Incorporated in the Cayman Islands with limited liability)
(Stock code: 471)
CHANGE IN BOARD LOT SIZE
Reference is made to the announcement of the Company dated 29 January 2016 and the circular of the Company dated 29 February 2016 (the “ Circular ”) in relation to, among other things, the proposed rights issue on the basis of one rights share for every one existing share at HK$0.1 per rights shares and the change in board lot size. Capitalized terms in this announcement shall have the same meanings as in the Circular unless otherwise stated.
The Board announces that the board lot size of the Shares for trading on the Stock Exchange will be changed from 20,000 Shares to 40,000 Shares with effect from 9:00 a.m. on Friday, 15 April 2016.
As at the date of this announcement, the Shares are traded on the Stock Exchange in board lots of 20,000 Shares. Based on the closing price of HK$0.091 per Share (equivalent to a theoretical ex-right price of approximately HK$0.064 per Share as at 29 January 2016), upon the allotment and issue of the Rights Shares and the Bonus Shares, the value of each board lot of 20,000 Shares is estimated to be approximately HK$1,280. It is proposed that after the Rights Issue becoming effective, the board lot size of the Shares shall be changed from 20,000 to 40,000 so that the estimated market value per board lot of Shares will be approximately HK$2,120 (based on the theoretical ex-right price of approximately HK$0.053 per Share as at the date of this announcement). The Board considers that the change in board lot size will increase the value of each board lot of Shares, as well as reduce transaction and registration costs incurred by the Shareholders and investors of the Company.
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The proposed change in board lot size is not conditional upon the approval by the Independent Shareholders or the completion of the Rights Issue and Bonus Shares. The Company will proceed with the proposed change in board lot size whether or not the Rights Issue and the Bonus Shares are approved by the Independent Shareholders at the EGM and/or completed.
In order to facilitate the trading of odd lots (if any) of Shares arising from the change of board lot size, the Company has appointed KGI Asia Limited to provide matching service, on a best effort basis, to those Shareholders who wish to acquire odd lots of Shares (i.e. less than 40,000 Shares) to make up a full board lot of 40,000 Shares, or to dispose of their holding of odd lots of Shares. Holders of odd lots of Shares who wish to take advantage of this trading facility to dispose of or top up odd lots should contact Ms. Grace Mok (telephone number: (852) 2878 4486 of KGI Asia Limited, at 41/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, during the period from 15 April 2016 to 10 May 2016, both days inclusive.
Holders of Shares in odd lots of less than 40,000 Shares should note that successful matching of the sale and purchase of odd lots of Shares will not be guaranteed. Shareholders are advised to consult their professional advisers if they are in doubt about the above arrangement.
EXPECTED TIMETABLE
The expected timetable for the change in board lot size of the Shares is set out below, all times and dates refer to Hong Kong local times and dates:
Last day of trading of Shares in board lots
of 20,000 Shares each in original counter . . . . . . . . . . . . . Thursday, 14 April 2016
Designated broker starts to stand in the market to
provide for odd lots of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . 9:00 a.m. on Friday, 15 April 2016
First day for free exchange of existing share certificates in board lots of 20,000 Shares each for new share certificates
in board lots of 40,000 Shares each . . . . . . . . . . . . . . . . . . . . . Friday, 15 April 2016
Effective date of change of board lot size from 20,000 to
40,000 Shares each . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friday, 15 April 2016
Last day for designated broker to provide matching
services for odd lots of Shares . . . . . . . . . . . . . . . . . . . . . . . . . 4:00 p.m. on Tuesday, 10 May 2016
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- Last day for free exchange of existing share certificates in board lots of 20,000 Shares each for new share certificates in board lots of 40,000 Shares each . . . . . . . . Thursday, 12 May 2016
EXCHANGE OF NEW SHARES CERTIFICATES
Shareholders may submit their existing share certificate(s) in board lots of 20,000 Shares (“ Existing Share Certificates ”) to the Company’s Hong Kong branch Share Registrar, Computershare Hong Kong Investor Services Limited (the “ Share Registrar ”) at 17M Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong in exchange for new share certificates in board lots of 40,000 Shares (“ New Share Certificates ”) free of charge during business hours from Friday, 15 April 2016 to Thursday, 12 May 2016 (both days inclusive). After the expiry of such period, Existing Share Certificates will be accepted for exchange only on payment of a fee of HK$2.5 (or such amount as may from time to time be specified by the Stock Exchange) for each New Share Certificate issued or each Existing Share Certificate submitted, whichever number of share certificate involved is higher. It is expected that the New Share Certificates will be available for collection from the Share Registrar by the holders of the Shares within 10 business days after delivery of the Existing Share Certificates to the Share Registrar for exchange purpose.
As from 15 April 2016, any New Share Certificates will be issued in board lots of 40,000 Shares each (except for odd lots or where the Share Registrar is otherwise instructed). All Existing Share Certificates will continue to be evidence of title to such Shares and be valid for transfer, delivery and settlement purposes.
By Order of the Board CMMB Vision Holdings Limited Wong Chau Chi Chairman
Hong Kong, 29 February 2016
As at the date of this announcement, the Board comprises two executive Directors, namely Mr. WONG Chau Chi and Dr. Hui LIU; two non-executive Directors, namely Mr. CHOU Tsan-Hsiung and Mr. YANG Yi; and three independent non-executive Directors, namely Mr. WANG Wei-Lin, Mr. Shan LI and Dr. LI Jun.
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