7 Jun 2017 10:14
Cathay International Holdings Limited
("Cathay", the "Company" or the "Group")
Lansen's proposal to approve the declaration and payment of a special dividend
Hong Kong, 7 June 2017 - Cathay International Holdings Ltd. (LSE: CTI.L), an operator and investor in the growing healthcare sector in the People's Republic of China, announces that its subsidiary Lansen Pharmaceutical Holdings Ltd ("Lansen") (HKEX: 503), in which the Company has a 50.56% holding, has announced in Hong Kong today that a meeting of the board of directors of Lansen (the "Lansen Board") will be held on Monday, 19 June, 2017 to consider the recommendation, declaration and payment of a special dividend. Lansen will make a further announcement after the Lansen Board meeting to set out the details of the special dividend, if approved by the Lansen Board.
There can be no guarantee that any proposed special dividend will be approved by the Lansen Board at the Lansen Board meeting or that the other conditions for the declaration and payment of a proposed special dividend will be fulfilled.
The full text of the Lansen Announcement can be found at http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0607/LTN20170607253.pdf and will also be made available at the Announcements & Notices section of Lansen's homepage at http://www.lansen.com.cn/En/Announcements&Notices.asp.
-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.