19 May 2008 07:30
Regulatory Announcement
19 May 2008
Cathay International Holdings Limited
Interim Management Statement
Cathay International Holdings Limited ("CIHL") is issuing the following Interim Management Statement for the period from 1 January 2008 to 19 May 2008, in accordance with the UK Listing Authority's Disclosure and Transparency Rules, in advance of its Annual General Meeting which will be held on 30 May 2008.
Material events and transactions during the period
On 14 March 2008, CIHL made an announcement that it had made additional equity and working capital investments in the Xian Haotian Group.
On 28 April 2008, a circular was posted to shareholders detailing the terms of the proposed further investments in the Xian Haotian Group. A notice was included in the circular convening a special general meeting to be held on 30 May 2008.
Please refer to the actual announcement and circular for details.
Financial position and performance
During the period under review, trading in the first quarter of 2008 was as usual.
The Crowne Plaza Hotel & Suites Landmark Shenzhen is now managed by the InterContinental Hotels Group and the operation is normal.
Market conditions in the pharmaceutical sector have not changed. The business is as usual.
The Group believes that the current level of cash and cash equivalents can support its working capital requirements.
This interim management statement contains certain forward-looking statements. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from those expressed in or implied by such statements depending on a variety of factors including the specific factors identified in this management statement and other factors discussed in our annual report.
For further information, please contact:
Stephen Hunt
Deputy Chairman, Cathay International Holdings
Tel: +852 2828 9289