24 Jun 2020 10:46
Cathay International Holdings Limited
("Cathay" or the "Company")
Despatch of Circular in related to Proposed Further Disposal of Starry Shares by Lansen
Hong Kong, 24 June 2020 - Cathay International Holdings Ltd. (LSE: CTI.L), an operator and investor in the healthcare sector in the People's Republic of China (the "PRC"), announces that, Lansen Pharmaceutical Holdings Limited ("Lansen", incorporated in the Cayman Islands) (HKEX: 503), the Company's 52.83% owned subsidiary, has released on today a circular and notice of extraordinary general meeting in relation to its proposed sale of shares in Zhejiang Starry Pharmaceutical Co., Ltd. (the "Circular" and "Notice of EGM" respectively) in accordance with the requirements of its Hong Kong listing.
The full text of the Lansen Circular can be found at https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0624/2020062400669.pdf and will also be made available at the Announcements & Notices section of Lansen's homepage at http://holding.lansen.com.cn//en/newslist.aspx?NodeCode=10002000700050005
The full text of the Lansen Notice of EGM can be found at https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0624/2020062400673.pdf and will also be made available at the Announcements & Notices section of Lansen's homepage at http://holding.lansen.com.cn//en/newslist.aspx?NodeCode=10002000700050005
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For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
SPARK Advisory Partners Limited (sponsor)
Andrew Emmott / James Keeshan Tel: +44 (0) 20 3368 3555
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main market listed investment holding company and an operator and investor in the healthcare sector in the People's Republic of China (the "PRC"). The Company and its subsidiaries (collectively the "Group") aim to leverage on investment opportunities in the growing domestic demand for high quality healthcare products in the PRC and build portfolio companies into market sector leaders with competitive edge. Cathay has already demonstrated a track record of identifying investment opportunities in this area including: Lansen, a leading specialty pharmaceutical company focused on rheumatology and dermatology in the PRC; Haizi, a company engaged in the manufacture, marketing and sale of inositol and its by-product, di-calcium phosphate; Natural Dailyhealth, a company engaged in production and sales of plant extracts for use as key active ingredients in healthcare products; and Botai, a company engaged in collagen products.
The Group employs approximately 1,300 people across the PRC, including over 20 specialist corporate and business development staff based at the holding company's offices in Hong Kong and Shenzhen. Cathay also has a hotel investment. For more information please visit the Company's website: www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the main board of the Hong Kong Stock Exchange, is a 52.83% owned subsidiary of Cathay. Lansen is engaged in the manufacture, distribution and development of specialty prescription drugs for treatment of autoimmune disorder in rheumatology and dermatology. Lansen has established an extensive distribution network, covering more than 1,500 hospitals in four municipalities, 22 provinces and cities in the PRC. For more information please visit the Lansen's website: www.lansen.com.cn/en/index.aspx.
About Starry
Starry, whose shares are listed on the Shanghai Stock Exchange (stock code: 603520), is 4.00% owned by Lansen. Starry is specialised in the research and development, manufacture, marketing and sales of bulk pharmaceuticals and intermediates. One of the core products of Starry is iohexol for X-CT non-ionic contrast agents. Starry is the largest generic drug manufacturer of iohexol's active pharmaceutical ingredients in the PRC and is experienced in the production management and quality control of bulk pharmaceuticals. For more information please visit Starry's website: http://www.starrypharm.com/en/index.aspx.