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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 Requisition Notice

29/09/2020 1:14pm

UK Regulatory (RNS & others)


Cathay International Hol... (LSE:CTI)
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RNS Number : 4695A

Cathay International Holdings Ld

29 September 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")

Requisition Notice Received by the Company

Hong Kong, 29 September 2020 - Cathay International Holdings Ltd. (LSE: CTI.L), an operator and investor in the healthcare sector in the People's Republic of China (the "PRC"), announces that on 28 September 2020 it received a notice from Circle Finance Limited and Mega Worldwide Services Limited, the holders of in aggregate 1,373,940,837 Common Shares of USD 0.01 each ("Common Shares") and 8,249,276 A Shares of USD 0.01 each ("A Shares" and together with the Common Shares, the "the "Shares"), requisitioning a general meeting of the Company's shareholders (the "Requisition Notice"). The Requisition Notice proposes resolutions (i): (a) to approve of the cancellation of the Company's listing (i.e. admission of its Common Shares to the official list of the FCA), and the cancellation of the admission of the Common Shares to trading on the main market of the London Stock Exchange, (the "Listing Cancellation"); and (b) to direct the directors of the Company (the "Directors") to take any and all actions required or reasonably necessary to effect the Listing Cancellation, and to make all associated notifications and announcements as may be reasonably required to effect the Listing Cancellation; and (ii) subject to the approval of resolution (i), to approve the adoption of a set of amended and restated bye-laws of the Company. In addition to the Requisition Notice, Circle Finance Limited has provided a letter of undertaking ("Letter of Undertaking"), setting out an irrevocable commitment, which is subject to the Listing Cancellation being approved by shareholders of the Company and becoming effective, to fund the payment for an exit opportunity available for all shareholders of the Company who wish to offer to sell their Shares for cash at a maximum price of 1.7p per Share on certain terms and conditions.

The board of Directors is considering the contents of the Requisition Notice and Letter of Undertaking and will make further detailed announcements as appropriate.

Shareholders are advised that there is no certainty that the proposed Listing Cancellation will proceed or that the Letter of Undertaking will result in an exit opportunity being crystalised , or to the timing of such, and therefore to take precaution in dealing in the Company's shares.

-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 adviser) 
  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-product, di-calcium phosphate; 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: www.cathay-intl.com.hk.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

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September 29, 2020 08:14 ET (12:14 GMT)

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