BEL GLOBAL RESOURCES HOLDINGS LTD Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
BEL GLOBAL RESOURCES HOLDINGS LIMITED
百 營 環 球 資 源 控 股 有 限 公 司
(incorporated in Bermuda with limited liability)
(stock code: 761)
WITHDRAWAL OF SUPPORT FOR THE REQUISITION OF SPECIAL GENERAL MEETING BY A SHAREHOLDER
The Board wish to inform the Shareholders that, the Board received a letter dated 17
March 2015 from one of the Requisitioning Shareholders, who is holding 22,664,000
Shares, representing approximately 0.63% of the total issued and paid-up capital of the Company, informing that he has withdrawn support for the requisitions as set out in the Requisition Notice.
In light of the above withdrawal of support to the Requisition Notice by that Shareholder, accordingly to the record of the Company, the remaining Requisitioning Shareholders only hold approximately 9.38% of the paid up capital of the Company, bringing them below the threshold required under Bye-law 58 and section 74 of the Bermuda Companies Act to requisition a SGM. Given that the Requisition Notice no longer complies with the requirements as stipulated in the Bye-laws and the Bermuda Companies Act, the Board is no longer required to convene a SGM.
Reference is made to the announcement of Bel Global Resources Holdings Limited (the
''Company'') dated 16 March 2015 (the ''Announcement'') in relation to the requisition of special general meeting by shareholders to approve, among other things, the Proposed Removal of Directors and the Proposed Appointment of Directors. Unless otherwise stated, capitalised terms used herein shall bear the same meanings as defined in the Announcement.
The Board wish to inform the Shareholders that, the Board received a letter dated 17 March
2015 from one of the Requisitioning Shareholders, who is holding 22,664,000 Shares, representing approximately 0.63% of the total issued and paid-up capital of the Company, informing that he has withdrawn support for the requisitions as set out in the Requisition Notice.
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In light of the above withdrawal of support to the Requisition Notice by that Shareholder, accordingly to the record of the Company, the remaining Requisitioning Shareholders only hold approximately 9.38% of the paid up capital of the Company, bringing them below the threshold required under Bye-law 58 and section 74 of the Bermuda Companies Act to requisition a SGM. Given that the Requisition Notice no longer complies with the requirements as stipulated in the Bye-laws and the Bermuda Companies Act, the Board is no longer required to convene a SGM.
SUSPENSION OF TRADING
As the request of the Company, trading in the Shares on the Stock Exchange has been suspended with effect from 9 : 00 a.m. on 4 July 2011 and will continue to be suspended until further notice.
Shareholders and potential investors are accordingly advised to exercise caution when dealing in the securities of the Company.
By order of the Board
Bel Global Resources Holdings Limited
Li Wing Tak
Company Secretary
Hong Kong, 20 March 2015
As at the date of this announcement, (i) the executive Directors are Ms. Sze Shan Shan, Pat (note 1), and Mr. Li Wing Tak (note 2); (ii) non-executive Director is Mr. Cai Dubing; and (iii) the independent non-executive Directors are Dr. Chang Sookong, Mr. Ho Wai Chi, Paul and Mr. Wong Lok.
Note 1: Positions, duties and functions suspended with effect from 12 December 2014.
Note 2: Mr. Li Wing Tak has appointed Mr. Wong Wan Sing as his alternate Director.
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