Cathay International Holdings Ld Update on cross guarantee agreement (8196E)
08 July 2019 - 9:32PM
UK Regulatory
TIDMCTI
RNS Number : 8196E
Cathay International Holdings Ld
08 July 2019
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Cathay International Holdings Limited ("Cathay" or the
"Company")
Update on renewal of Cross Guarantee Agreement
between Jilin Haizi and Lansen's subsidiaries
Hong Kong, 8 July 2019 - Cathay International Holdings Limited
(LSE: CTI.L), an operator and investor in the growing healthcare
sector in the People's Republic of China, announces that its
subsidiary, Lansen Pharmaceutical Holdings Limited (Lansen) (HKEX:
503), has passed the ordinary resolution at its extraordinary
general meeting held on 8 July 2019 to approve the cross guarantee
agreement dated 3 May 2019 entered into between Jilin Haizi
Bio-Engineering Technology Company Ltd ("Jilin Haizi"), (a wholly
owned subsidiary of the Company), Ningbo Liwah Pharmaceutical
Company Ltd ("Ningbo Liwah") (a wholly owned subsidiary of Lansen
Pharmaceutical Holdings Ltd ("Lansen" (HKEX: 503), in which the
Company has a 52.48% holding)) and Lansen BVI (also a wholly owned
subsidiary of Lansen).
The full text of the Lansen Announcement can be found at
https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0708/ltn20190708720.pdf
and will also be made available at the Announcements & Notices
section of Lansen's homepage at
http://holding.lansen.com.cn/en/newslist.aspx?NodeCode=10002000700050005.
- ENDS -
For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
Consilium Strategic Communications
Mary-Jane Elliott/ Matthew Neal / Lindsey Neville Tel: +44 (0)
203 709 5700
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the healthcare sector in the People's Republic of China
(the "PRC"). The Group aims to leverage on investment opportunities
in the growing domestic demand for high quality healthcare products
in the PRC and build portfolio companies into market sector leaders
with competitive edge. Cathay has already demonstrated a track
record of identifying investment opportunities in this area
including: Lansen, a PRC specialty pharmaceutical company focused
on rheumatology and dermatology; Haizi, a PRC inositol
manufacturer; Natural Dailyhealth, a company engaged in production
and sales of plant extracts for use as key active ingredients in
healthcare products; and Botai, a company engaged in collagen
products.
The Group employs approximately 1,500 people across the PRC,
including over 20 specialist corporate and business development
staff based at the holding company's offices in Hong Kong and
Shenzhen. Cathay also has a hotel investment in Shenzhen. For more
information please visit the Company's website:
http://www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the main board of the Hong
Kong Stock Exchange, is a 52.48% owned subsidiary of Cathay. Lansen
is engaged in the manufacture, distribution and development of
specialty prescription drugs for treatment of autoimmune disorder
in rheumatology and dermatology. Lansen has established an
extensive distribution network, covering more than 1,000 hospitals
in four municipalities, 25 provinces and cities in the PRC. For
more information please visit the Lansen's website:
www.lansen.com.cn/en/index.aspx.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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