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.
CWT INTERNATIONAL LIMITED
(Incorporated in Hong Kong with limited liability)
(Stock Code: 521)
DELAY IN DESPATCH OF CIRCULAR
IN RELATION TO
THE DISPOSAL OF THE GOLF COURSES IN THE US THROUGH
THE DISPOSAL OF A SUBSIDIARY
References are made to the announcements issued by CWT International Limited (the "Company") dated 1 November 2019 and 15 November 2019 (the "Previous Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Previous Announcements unless otherwise stated.
As stated in the Previous Announcements, a circular of the Company (the "Circular") containing, among other things, further details of the Sale and Purchase Agreement and the disposal of the Sale Share and the assignment of the Sale Loan in accordance with the terms and conditions of the Sale and Purchase Agreement, will be despatched by the Company to its Shareholders on or before 22 November 2019. As additional time is required to prepare and finalise certain information to be included in the Circular, it is expected that the date of despatch of the Circular will be delayed. The Company has obtained a waiver from the Stock Exchange from strict compliance with Rule 14.41(a) of the Listing Rules to despatch the Circular on or before 30 November 2019.
The Company expects to despatch the Circular on or before 30 November 2019.
CONTINUED SUSPENSION OF TRADING
Reference is made to the announcements of the Company dated 10 April 2019, 6 June 2019, 9 July 2019, 19 July 2019, 5 August 2019 and 9 October 2019. At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 2:32 p.m. on 10 April 2019. The shares of the Company will remain suspended until the materialization of the disposal plans of the Group gearing towards the repayment of the amounts due and payable under the Facility Agreement and the approval of the resumption proposal of the Company by the Stock Exchange.
By order of the Board
CWT INTERNATIONAL LIMITED
Ding Lei
Executive Director
Hong Kong, 22 November 2019
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As at the date of this announcement, the Board comprises Mr. Zhu Weijun (Executive Director and Co-Chairman), Mr. Ding Lei (Executive Director and Co-Chairman), Mr. Li Tongshuang (Executive Director and Chief Executive Officer), Mr. Zhao Quan (Executive Director), Mr. Chen Chao (Executive Director), Mr. Mung Bun Man, Alan (Non-executive Director), Mr. Leung Shun Sang, Tony (Independent Non-executive Director), Mr. Liem Chi Kit, Kevin (Independent Non-executive Director), Mr. Lam Kin Fung, Jeffrey (Independent Non-executive Director) and Ms. Chen Lihua (Independent Non-executive Director).
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