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 METAL RESOURCES UTILIZATION LIMITED
中國金屬資源利用有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1636)
COMPLETION OF THE ALLOTMENT AND ISSUE OF CONSIDERATION SHARES
Reference are made to the announcements of China Metal Resources Utilization Limited (the "Company") dated 7 February 2018 and 27 September 2019 in relation to the Sale and Purchase Agreement, pursuant to which the Company agreed to purchase, and Sure Victor agreed to sell, 100 shares in the Target for an aggregate consideration of HK$741,175,000, of which HK$287,647,000 shall be settled in cash and HK$453,528,000 shall be settled by way of allotment and issue of Consideration Shares pursuant to the Earn-out Arrangement (the "Announcements").
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.
The Board is pleased to announce that Listing Approval has been granted by the Stock Exchange on 3 October 2019. The Year 1 Earn-out Consideration Shares have been allotted and issued by the Company to Sure Victor on 9 October 2019 in accordance with the Earn-out Arrangement, representing approximately 0.64% of the issued share capital of the Company immediately before the allotment and issue of the Year 1 Earn-out Consideration Shares and approximately 0.63% of the issued share capital of the Company as enlarged by such allotment and issue.
By order of the Board
China Metal Resources Utilization Limited
Mr. Yu Jianqiu
Chairman
Hong Kong, 9 October 2019
As at the date of this announcement, the board of directors of the Company comprises four executive directors, namely, Mr. Yu Jianqiu (Chairman), Mr. Kwong Wai Sun Wilson, Mr. Huang Weiping and Ms. Zhu Yufen; and three independent non-executive directors, namely, Mr. Lee Ting Bun Denny, Mr. Pan Liansheng and Ms. Ren Ruxian.
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