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RICHLY FIELD CHINA DEVELOPMENT LIMITED
裕 田 中 國 發 展 有 限 公 司
(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)
(stock code: 313)
INSIDE INFORMATION
WINDING-UP PETITION
This announcement is made by Richly Field China Development Limited (the "Company") under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").
THE PETITION
On 29th August 2019, the Company received a winding-up petition (the "Petition") dated 27th August 2019 filed by Mr. He Dazhao (the "Petitioner") against the Company in the Court of First Instance of the High Court of the Hong Kong Special Administrative Region (the "Court"). In the Petition, the Petitioner petitioned for:
- an order that the Company be wound up by the Court under section 327(3) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong) (the "CWUMPO");
- the costs of the Petitioner be paid out of the Company's assets; and/or
- that such order may be made in the premises as the Court shall deem just.
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The Petition was filed against the Company for failure to settle an indebted sum of HK$91,399,761.36, plus further daily interest of HK$48,850.75, in total being the alleged outstanding amount owed by the Company to the Petitioner. The Petition will be heard before the Court at 9:30 a.m. on 23rd October 2019.
The Company is seeking legal advice in respect of the Petition. The Company intends to negotiate with the Petitioner for an amicable settlement of the matter, and will endeavor to agree on a joint application to dismiss the Petition as soon as possible. The Company will make further announcement(s) to keep its shareholders and investors informed of any significant developments in relation to the Petition as and when appropriate.
Shareholders of the Company and potential investors should exercise caution when dealing in the shares or other securities of the Company.
By Order of the Board
Richly Field China Development Limited
Li Yi Feng
Chairman and Chief Executive Officer
Hong Kong, 29th August 2019
As at the date of this announcement, the Board comprises two executive directors, namely Mr. Li Yi Feng (Chairman) and Mr. Chen Wei (Vice President) and three independent non- executive directors, namely Ms. Hsu Wai Man Helen, Mr. Wong Tak Chun and Mr. Xu Jinghong.
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