19 Jun 2017 11:54
Cathay International Holdings Limited
("Cathay", the "Company" or the "Group")
Lansen's declaration and payment of a special dividend
Hong Kong, 19 June 2017 - Cathay International Holdings Ltd. (LSE: CTI.L), is an operator and investor in the growing healthcare sector in the People's Republic of China. Reference is made to the Company's announcement on 7 June 2017 in relation to the proposal by Lansen Pharmaceutical Holdings Ltd ("Lansen") (HKEX: 503), the Company's 50.56% owned subsidiary, to approve the declaration and payment of a special dividend to its shareholders.
The Company announces that Lansen has announced today that the Lansen board has declared a special dividend (the "Special Dividend") of HK cent 14.94 per share of Lansen, amounting to approximately HKD62,001,000 (approximately USD8,000,129) in total. The Special Dividend will be payable on Friday, 4 August 2017 to the shareholders of Lansen whose names appear on the register of members of Lansen on Wednesday, 12 July 2017. The Special Dividend to be received by the Company from Lansen is HKD31,347,108 (approximately USD4,044,788) in total and will be used by the Company for general working capital and repayment of bank debt.
The full text of the Lansen Announcement can be found at http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0619/LTN20170619494.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.
-ENDS-
For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
N+1 Singer
Aubrey Powell/ Lauren Kettle - Corporate Finance Tel: +44 (0) 20 7496 3000
Brough Ransom - Sales
Consilium Strategic Communications
Mary-Jane Elliott/ Matthew Neal / Lindsey Neville Tel: +44 (0) 203 709 5700
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main market listed investment holding company and an operator and investor in the growing healthcare sector in the People's Republic of China (the "PRC"). The Company and its subsidiaries (collectively the "Group") aim to leverage on growth opportunities in the strong and growing domestic demand for high quality healthcare products in the PRC and build its portfolio companies into market sector leaders with competitive edge. Cathay has already demonstrated a strong track record of identifying high- growth potential 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 2,000 people across the PRC, including over 30 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 mainboard of the Hong Kong Stock Exchange, is a 50.56% 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 is in the leading market position in disease modifying anti-rheumatic drugs ("DMARDs") for treatment of rheumatoid arthritis ("RA") in the PRC. Lansen has established an extensive distribution network, covering more than 1,000 hospitals in four municipalities, 25 provinces and cities in the PRC. For more information please visit the Lansen's website: http://www.lansen.com.cn/En/index.asp.