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ZO Future Group — Capital/Financing Update 2014
Feb 18, 2014
50510_rns_2014-02-18_abcb5bcf-04aa-4da6-aa1c-68d1518e8dcf.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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BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰環球控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2309)
SUPPLEMENTAL ANNOUNCEMENT
Reference is made to the Company’s announcement (the “ Announcement ”) dated 12 February 2014 in relation to the sale of a 12% interest in Birmingham City Plc. Capitalised terms used in this announcement shall have the same meaning as those defined in the Announcement unless stated otherwise.
The basis of the consideration of HK$45,000,000 for a 12% equity interest in Birmingham City Plc was arrived at on the basis of indicative discussion made by independent third parties for the Club and having regards to the asset value of the Club of approximately HK$300,000,000.
The unaudited financial effect of the Disposal is a gain of approximately HK$8 million to HK$ 9 million arising on completion as compared to the net book value of such asset.
The Company is expected to use the proceeds from the Disposal for routine daily operations and will continue to look for sound investment opportunity as and when they arise.
By Order of the Board
BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED
Ma Shui Cheong
Executive Director
Hong Kong, 18 February 2014
As at the date hereof, the executive directors of the Company are Mr. Cheung Shing, Mr. Peter Pannu, Mr. Ma Shui Cheong, Mr. Chan Shun Wah, Mr. Cheung Kwai Nang, Mr. Chen Liang and Mr. Panagiotis Pavlakis and the independent non-executive directors are Mr. Wong Ka Chun, Carson, Mr. Gao Shi Kui, Mr. Liu Enxue and Mr. Li Hanguo.