23 Dec 2016 10:47
For immediate release | 23 December 2016 |
Asian Citrus Holdings Limited
("Asian Citrus" or the "Company")
Extension Of Long Stop Dates Regarding Major Transaction And The Placing
Delayed Despatch Of Circular Regarding The Major Transaction
Reference is made to the announcement of the Company dated 25 August 2016 in relation to, among other things, the proposed acquisition of 100% of Eagleton Global Investments Limited and the proposed placing of up to 610,000,000 shares of the Company under a specific mandate (the "Major Transaction Announcement"), the announcement of the Company dated 29 September 2016 relating to the delay in publication of the annual results of the Company (the "Delayed Results Announcement"), the announcement of the Company dated 14 October 2016 relating to the delay in the despatch of a circular and the announcements of the Company dated 8 November 2016, 8 December 2016 and 22 December 2016 being updates on the status of the delay in publication of the annual results of the Company (the "Update Announcements"). Unless otherwise specified, capitalised terms used herein shall have the same meanings as adopted in the Major Transaction Announcement.
As referred to in the Delayed Results Announcement and the Update Announcements, the audited consolidated financial statements for the year ended 30 June 2016 are not yet available. Accordingly the Company has not issued its circular in connection with the proposed acquisition and the proposed placing (the "Circular") as referred to in the Major Transaction Announcement.
The Vendor has indicated its support of the Company and accordingly, the Vendor has on 23 December 2016 agreed to extend the long stop date for fulfilling (or waiving) the conditions precedent of the SPA from 31 December 2016 to 30 June 2017. The Company and the Placing Agent entered into a supplemental placing agreement on 23 December 2016 to extend the long stop date under the Placing Agreement from 31 December 2016 to 30 June 2017.
The Company will update shareholders as to the despatch date of the Circular in due course.
This announcement contains inside information for the purpose of Article 7 of Regulation (EU) No 596/2014.
For further enquiries please contact:
Asian Citrus | +852 3951 0000 |
Emma Ng (Chief Financial Officer and Company Secretary) | |
Cantor Fitzgerald Europe (NOMAD and Broker) | +44 (0) 20 7894 7000 |
Rick Thompson/David Foreman/Michael Reynolds (Corporate Finance) | |
Weber Shandwick Financial | +44 (0) 20 7067 0700 |
Nick Oborne, Stephanie Badjonat, Tom Jenkins | |