Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 308)
INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 30 JUNE 2019
CALCULATION OF MARKET VALUE
On 30 August 2019, the board of directors (the "Board") of China Travel International Investment Hong Kong Limited (the "Company") declared an interim dividend of HK3 cents per share (the "Share") for the six months ended 30 June 2019 (the "Interim Dividend") payable to the shareholders of the Company (the "Shareholders") whose names appear on the register of members of the Company on Wednesday, 25 September 2019 (the "Record Date"). Eligible Shareholders may elect to receive the Interim Dividend in cash, or in the form of new fully paid Shares (the "New Shares") in lieu of cash, or partly in cash and partly in the form of New Shares (the "Scrip Dividend Scheme").
For the purpose of calculating the number of New Shares to be allotted pursuant to the Scrip Dividend Scheme, the market value of the New Shares has been fixed at HK$1.266 per Share (the "Average Closing Price"), which is the average value of the closing prices per Share as quoted on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for the five consecutive trading days prior to and including 25 September 2019. Accordingly, the number of New Shares which an eligible Shareholder is entitled to receive in respect of the Shares registered in its/his/her name on the Record Date and for which it/he/she has elected to receive New Shares, will be calculated as follows:
Number of | Number of existing Shares | |||
held on the Record Date for | HK3 cents (Interim Dividend per Share) | |||
New Shares to | = | x | ||
which scrip election is made | HK$1.266 (Average Closing Price) | |||
be received | ||||
for the Interim Dividend | ||||
The number of New Shares to be issued to each eligible Shareholder pursuant to its/his/her election will be rounded down to the nearest whole number of the New Shares. Fractional entitlements to the New Shares will be disregarded and the benefit thereof will accrue to the Company. The New Shares to be issued pursuant to the Scrip Dividend Scheme will, when they are issued, rank pari passu in all respects with the Shares in issue on the date of the allotment and issue of the New Shares except that such New Shares themselves will not be entitled to the Interim Dividend.
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Application has been made to the Listing Committee of the Stock Exchange for listing of, and permission to deal in, the New Shares to be allotted and issued pursuant to the Scrip Dividend Scheme. A circular to Shareholders giving details of the Scrip Dividend Scheme (the "Circular"), together with a form of election in relation to the Scrip Dividend Scheme (the "Election Form"), is expected to be sent to eligible Shareholders on or about Wednesday, 9 October 2019. Shareholders with registered addresses in certain jurisdictions outside Hong Kong as specified in the Circular (whom the Directors of the Company consider exclusion from the Scrip Dividend Scheme to be necessary or expedient pursuant to Rule 13.36(2) of the Rules Governing the Listing of Securities on the Stock Exchange) will be excluded from receiving the Election Forms and will only receive the Interim Dividend wholly in cash.
Shareholders who wish to receive only cash for the Interim Dividend should NOT complete and return the Election Forms.
Shareholders who wish to receive, in lieu of cash dividend, in whole or in part, an allotment of New Shares should complete and sign the Election Forms in accordance with the instructions printed thereon and return it to the Company's Share Registrar, Tricor Tengis Limited at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong no later than the latest time specified in the Circular which is expected to be 4:30 p.m. on Thursday, 24 October 2019.
It is expected that the definitive certificates for New Shares, and cheques for cash dividends, will be sent by ordinary mail to Shareholders at the risk of those entitled thereto on or about Tuesday, 12 November 2019 and the first day of dealings in the New Shares on the Stock Exchange is expected to be on or about Wednesday, 13 November 2019.
By order of the Board
China Travel International Investment Hong Kong Limited
Fu Zhuoyang
Chairman
Hong Kong, 25 September 2019
As at the date of this announcement, the Board comprises seven executive Directors, namely Mr. Fu Zhuoyang, Mr. Lo Sui On, Mr. Jiang Hong, Mr. Chen Xianjun, Mr. You Cheng, Mr. Yang Hao and Mr. Wu Qiang and five independent non-executive Directors, namely Mr. Tse Cho Che Edward, Mr. Zhang Xiaoke, Mr. Huang Hui, Mr. Chen Johnny and Mr. Song Dawei.
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