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STYLAND HOLDINGS LIMITED
大 凌 集 團 有 限 公 司*
(Incorporated in Bermuda with limited liability)
(Stock Code: 211)
(Warrant Code: 1535)
ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE
This announcement is made by Styland Holdings Limited (the ''Company'') pursuant to Rule 3.7 of The Code on Takeovers and Mergers (the ''Takeovers Code'').
Reference is made to the announcements of the Company dated 1 April 2016, 3 May 2016,
1 June 2016 and 4 July 2016 (the ''Announcements'') respectively. Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as defined in the Announcements.
As disclosed in the announcement of the Company dated 1 April 2016, the Possible Transfer and the Possible Subscription are subject to the execution and completion of the Formal Agreements and the Subscriber, the Company and Mr. Cheung would proceed with further negotiations for entering into of the Formal Agreements on or before the Long Stop Date (i.e. 31 July 2016 or such later date as the parties thereto may agree).
The Board would like to update the Shareholders, holders of the Warrants and potential investors of the Company that as at 31 July 2016, no Formal Agreement(s) in respect of the Possible Subscription or the Possible Transfer have been reached yet and the MOU has been lapsed in accordance with its terms on 31 July 2016. Accordingly, the offer period for the purpose of the Takeovers Code has come to an end. The Company will cease to publish further monthly announcements in respect of the progress of the Possible Subscription and the Possible Transfer, which would otherwise be required under Rule 3.7 of the Takeovers Code.
By order of the Board
STYLAND HOLDINGS LIMITED
Ng Yiu Chuen
Executive Director
Hong Kong, 1 August 2016
* For identification purpose only
As at the date of this announcement, the executive Directors are Mr. Cheung Hoo Win, Mr. Ng Yiu Chuen, Ms. Mak Kit Ping, Ms. Zhang Yuyan and Ms. Chen Lili and independent non-executive Directors are Mr. Zhao Qingji, Mr. Yeung Shun Kee, Mr. Li Hancheng and Mr. Lo Tsz Fung Philip.
All Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable enquires, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement contained in this announcement misleading.