Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
CHINA ENVIRONMENTAL TECHNOLOGY HOLDINGS LIMITED 中國環保科技控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 646)
PROPOSED ISSUE OF CONVERTIBLE BONDS DUE 2020 IN THE
AGGREGATE PRINCIPAL AMOUNT OF US$10,000,000
UNDER GENERAL MANDATE
LAPSE OF THE SUBSCRIPTION AGREEMENT
Reference is made to the announcement (the "Announcement") of China Environmental Technology Holdings Limited (the "Company") dated 1 November 2017 in relation to the proposed issue and subscription of Convertible Bonds due 2020 in the aggregate principal amount of US$10,000,000 (equivalent to HK$78,000,000). Unless otherwise expressly indicated, capitalised terms used herein shall have the same meanings as those defined in the Announcement.
As disclosed in the Announcement, the Completion Date was expected to be on or around 15 December 2017 or such other date as mutually agreed by the Company and the Subscriber, and in the event that the Conditions Precedent cannot be fulfilled or waived on or before 15 December 2017 or such other date as may be mutually agreed by the Company and the Subscriber, the Subscription Agreement shall lapse (save and except in accordance with the terms of the Subscription Agreement). Since certain Conditions Precedent under the Subscription Agreement in relation to the subscription of the Convertible Bonds were not satisfied as at 15 December 2017 and as of the date this announcement, the Subscription Agreement has lapsed and the transaction as contemplated under the Subscription Agreement shall not proceed, where upon all rights and obligations of the Company and the Subscriber contained therein shall cease to have effect.
The Board is of the view that the lapse of the Subscription Agreement does not have any material adverse effect on the operation, business and financial position of the Group as a whole.
By order of the Board
China Environmental Technology Holdings Limited
Li Wang Hing, Nelson
Company Secretary
Hong Kong, 29 December 2017
As at the date of this announcement, the executive directors are Mr. Xu Zhong Ping, Mr. Xu Xiao Yang and Ms. Hu Yueyue; the non-executive director is Mr. Ma Tianfu; and the independent nonexecutive directors are Mr. Tse Chi Wai, Professor Zhu Nan Wen and Professor Li Jun.