Asian Citrus Holdings Ltd Holding in Company and Director Dealing (8997S)
13 July 2015 - 11:26PM
UK Regulatory
TIDMACHL
RNS Number : 8997S
Asian Citrus Holdings Ltd
13 July 2015
For immediate release 13 July 2015
Asian Citrus Holdings Limited
("Asian Citrus" or the "Company")
Holding in Company and Director Dealing
The board of directors (the "Board") has been informed on 13
July 2015 that Changjiang Tyling Management Company Limited
("Changjiang Tyling") had completed the off-market purchase of
179,252,394 ordinary shares ("Shares") in the Company (the "Share
Purchase"), representing approximately 14.34% of the total issued
share capital of the Company, from Market Ahead Investments Limited
("Market Ahead(1) "), the single largest shareholder of the Company
immediately prior to the Share Purchase. The total consideration
for the Share Purchase is HK$200,000,000.
Changjiang Tyling is a company established under the laws of the
British Virgin Islands and owned as to 50% by Mr. Ng Ong Nee ("Mr.
Ng"), the Company's executive director and chief executive officer,
and 50% by a third party independent to the Company and its
connected persons. Changjiang Tyling did not hold any Shares
immediately prior to the Share Purchase. As at the date of this
announcement, Mr. Ng also has options entitling him to subscribe
for a further 1,600,000 ordinary shares of the Company at the
exercise price of HK$1.47 per share during the period from 21 May
2016 to 20 May 2019.
Resumption of Trading
At the request of the Company, trading in the Shares on The
Stock Exchange of Hong Kong Limited (the "HK Stock Exchange") was
halted from 9:00 a.m. on 13 July 2015 Hong Kong time pending the
release of a similar announcement in Hong Kong. An application has
been made by the Company to the HK Stock Exchange for resumption of
trading in the Shares on the HK Stock Exchange with effect from
9:00 a.m. on 14 July 2015 Hong Kong time.
(1) Market Ahead is a company incorporated in the British Virgin
Islands, the entire issued share capital of which is beneficially
owned by the following persons:
Mr. Tong Wang Chow (resigned as an Executive Director of Asian
Citrus on 3 March 2014) 76%
Mr. Tong Hung Wai, Tommy 6% (Executive Director of the
Company)
Mrs. Tong Lee Fung Kiu 6%
Ms. Tong Mei Lin 6%
Mr. Lee Kun Chung 6%
For further enquiries please contact:
Asian Citrus +852 2559 0323
Mark Ng, Executive Director and Chief Financial Officer
Cantor Fitzgerald Europe (NOMAD and Broker) +44 (0) 20 7894 7000
Rick Thompson, David Foreman (Corporate Finance)
Richard Redmayne (Corporate Broking)
Weber Shandwick Financial +44 (0) 20 7067 0700 Nick Oborne,
Stephanie Badjonat, Tom Jenkins
This information is provided by RNS
The company news service from the London Stock Exchange
END
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