Share Name Share Symbol Market Type Share ISIN Share Description
Cathay International Holdings Ld LSE:CTI London Ordinary Share BMG1965E1030 COM SHS $0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.75 0.50 1.00 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 60.1 -8.3 -4.0 - 14

Cathay International Holdings Ld Disposal of Starry Shares

02/11/2020 10:11am

UK Regulatory (RNS & others)

Cathay International Hol... (LSE:CTI)
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RNS Number : 9246D

Cathay International Holdings Ld

02 November 2020

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")

Disposal of Starry Shares

Hong Kong, 2 November 2020 - 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 further to the approvals granted by Cathay's shareholders on 15 May 2020 and by the shareholders of its subsidiary, Lansen Pharmaceutical Holdings Limited (Lansen) (HKEX: 503), on 13 July 2020, Lansen has further disposed on-market of an aggregate of 149,200 shares in Zheijang Starry Pharmaceutical Co., Ltd (Starry) at an average price of RMB 76.73 per Starry Shares during the period from 15 October 2020 to 30 October 2020.

The gross sale proceeds of disposal were approximately RMB11.45 million and, after deducting transaction costs and related tax, expected to be approximately RMB10.78 million (approximately US$1.58 million). Lansen is expected to recognise a net gain of approximately USD 0.27 million, of which USD 0.14 million is attributable to Cathay. The above-mentioned US$ amounts are converted based on the exchange rate of US$1=RMB6.8101, and the actual exchange rate used in conversion may be different.

As at the date of this announcement after the disposal of Starry Shares, 4,569,655 Shares are owned by the Lansen group (representing approximately 1.87% in Starry), which value will be subject to market price fluctuations.

The full text of the Lansen Announcement can be found at and will also be made available at the Announcements & Notices section of Lansen's homepage at .

- ENDS -

For further enquiries, please contact:

Cathay International Holdings Limited

Eric Siu (Finance Director) Tel: +852 2828 9289

Patrick Sung (Director and Controller)

SPARK Advisory Partners Limited (Financial Advisor)

Andrew Emmott / James Keeshan Tel: +44 (0) 20 3368 3555

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 Company and its subsidiaries (collectively the "Group") aim 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 leading specialty pharmaceutical company focused on rheumatology and dermatology in the PRC; Haizi, a company engaged in the manufacture, marketing and sale of inositol and its by-products; 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 1,300 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. For more information please visit the Company's website:

About Lansen

Lansen, whose shares are listed on the main board of the Hong Kong Stock Exchange, is a 52.83% 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 1,500 hospitals in four municipalities, 22 provinces and cities in the PRC. For more information please visit the Lansen's website: .

About Starry

Starry, whose shares are listed on the Shanghai Stock Exchange (stock code: 603520). Starry is specialised in the research and development, manufacture, marketing and sales of bulk pharmaceuticals and intermediates. One of the core products of Starry is iohexol for X-CT non-ionic contrast agents. Starry is the largest generic drug manufacturer of iohexol's active pharmaceutical ingredients in the PRC and is experienced in the production management and quality control of bulk pharmaceuticals. For more information please visit Starry's website: .

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(END) Dow Jones Newswires

November 02, 2020 05:11 ET (10:11 GMT)

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