Cathay International Holdings Ld Update on cross guarantee agreement (8196E)

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.

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For further enquiries, please contact:

Cathay International Holdings Limited

Eric Siu (Finance Director) Tel: [phone]

Patrick Sung (Director and Controller)

Consilium Strategic Communications

Mary-Jane Elliott/ Matthew Neal / Lindsey Neville Tel: [phone]

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 [e-mail] or visit www.rns.com.

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July 08, 2019 07:32 ET (11:32 GMT)