1 Jun 2010 07:06
1 June 2010
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA.
THE CONTENTS OF THIS ANNOUNCEMENT DO NOT CONSTITUTE OR FORM PART OF AN OFFER OF OR INVITATION TO SELL OR ISSUE OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR ANY SECURITIES FOR SALE IN ANY JURISDICTION NOR SHALL THEY (OR ANY PART OF THEM) OR THE FACT OF THEIR DISTRIBUTION FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, OR ACT AS AN INDUCEMENT TO ENTER INTO, AND CONTRACT OR COMMITMENT TO DO SO.
CATHAY INTERNATIONAL HOLDINGS LTD.
Update on Flotation and Partial Disposal of
Lansen Pharmaceutical Holdings Company Limited ("Lansen Holdings")
Cathay International Holdings Ltd. (LSE: CTI.L) (the "Company"), the London listed company specialising in investment opportunities in the People's Republic of China ("PRC"), announces that, further to the announcement made by the Company on 6 May 2010 and following the commencement of trading of shares in Lansen Holdings on 7 May 2010, the stabilisation period in connection with the flotation of Lansen Holdings ended on 30 May 2010.
On 28 May 2010, Piper Jaffray Asia Securities Limited, as sole bookrunner on behalf of the placing underwriters, exercised the over-allocation option granted to it under the terms of the flotation, and Lansen Holdings will issue 15,000,000 shares in order to cover the over-allocations in the placing carried out in connection with the flotation of Lansen Holdings (the "Over-allocation Shares"). Lansen Holdings will receive additional net proceeds of approximately HK$56 million (approximately US$7.2 million) from the allotment and issue of the Over-allocation shares in Lansen Holdings.
Following the allotment of the Over-allocation Shares, the Company will hold approximately 50.56% of the enlarged share capital of Lansen Holdings.
Enquiries
| Cathay International Holdings Ltd. | + 852 2828 9289 |
| Patrick Sung / Eric Siu | |
| Brunswick | +44 (0)20 7404 5959 |
| Jon Coles |
CTI.L (CTI)