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.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 36) COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE Placing Agent
The Board is pleased to announce that all the conditions of the Placing have been fulfilled and completion of the Placing took place on 23 June 2015. An aggregate of 181,200,000
Placing Shares have been successfully placed by the Placing Agent to not less than six Placees at the Placing Price of HK$1.38 per Placing Share pursuant to the terms and conditions of the Placing Agreement.
Reference is made to the announcement of Far East Holdings International Limited (the "Company") dated 4 June 2015 in respect of the Placing (the "Announcement"). Unless defined otherwise, capitalised terms used herein shall have the same meanings as those defined in the Announcement.
The Board is pleased to announce that all the conditions of the Placing have been fulfilled and completion of the Placing took place on 23 June 2015. An aggregate of 181,200,000 Placing Shares have been successfully placed by the Placing Agent to not less than six Placees at the Placing Price of HK$1.38 per Placing Share pursuant to the terms and conditions of the Placing Agreement.
To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, the Placees and their ultimate beneficial owners are Independent Third Parties. None of the Placees has become a substantial Shareholder (as defined under the Listing Rules) immediately after completion of the Placing. The net proceeds from the Placing, after deducting the placing commission and other expenses in connection with the Placing from the gross proceeds, are approximately HK$243.50 million and are intended to be used as general
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working capital, securities investment of the Group and/or acquire the sale shares in Coast Holdings Limited at cash consideration of HK$70 million as disclosed in the announcement of the Company dated 15 June 2015.
The 181,200,000 Placing Shares represent approximately 16.64% of the issued share capital of the Company immediately upon completion of the Placing.
Set out below is the shareholding structure of the Company immediately before and after completion of the Placing:
Approximate
Immediately after the completion of the PlacingApproximate
No. of Shares
% No. of Shares %
Placing Agent and its associates 3,861,000 0.43% 3,861,000 0.35% Placees - - 181,200,000 16.64% Public Shareholders 904,057,593 99.57% 904,057,593 83.01%
Total 907,918,593 100.00% 1,089,118,593 100.00%
Note:
The percentages are subject to rounding difference, if any.
By Order of the Board
Far East Holdings International Limited Yu Pak Yan, PeterExecutive Director
Hong Kong, 23 June 2015
As at the date of this announcement, the Board comprises six Directors, of which three are executive Directors, namely, Mr. Derek Chiu, Mr. Yu Pak Yan, Peter and Mr. Fok Chi Tak; and three are independent non-executive Directors, namely, Mr. Chan Ming Sun, Jonathan, Dr. Wong Yun Kuen and Ms. Kwan Shan.
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