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Chu Kong Shipping Enterprises (Group) Co., Ltd.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 00560)
COMPLETION OF PLACING OF UNLISTED WARRANTS UNDER GENERAL MANDATE Placing AgentGUANGDONG SECURITIES LIMITED
The Board is pleased to announce that the Placing was completed on 13 June 2013, and 180,000,000 Warrants were issued to not less than six Placees pursuant to the terms of the Placing Agreement.
Reference is made to the announcement of Chu Kong Shipping Enterprises (Group) Company Limited (the "Company") dated 28 May 2013 in relation to the proposed placing of unlisted warrants under general mandate (the "Announcement"). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.
The Board is pleased to announce that the Placing was completed on 13 June 2013, and
180,000,000 Warrants were issued to not less than six Placees pursuant to the terms of the Placing Agreement.
To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, the Placees and their ultimate beneficial owners are professional, institutional and/or individual investors independent of, not connected with, and not acting in concert with the Company or any director(s), chief executive(s) or substantial shareholder(s) of the Company or any of its subsidiaries or their respective associates.
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Upon exercise in full of the subscription rights attaching to the Warrants at the initial Subscription Price of HK$2.20, a maximum of 180,000,000 Subscription Shares will be issued and allotted, representing 20% of the issued share capital of the Company as at the date of this announcement and approximately 16.67% of the issued share capital of the Company as enlarged by the issue and allotment of the Subscription Shares.
As at the date of this announcement, the Company has 900,000,000 Shares in issue. For illustration purpose only, the shareholding structure of the Company (i) as at the date of this announcement; and (ii) immediately after the full exercise of the subscription rights attaching to the Warrants (assuming that there will be no further changes in the issued share capital of the Company prior to such exercise and no adjustment to the Subscription Price) are as follows:
Number of Approximate Number of Approximate
Shares Percentage Shares Percentage
Chu Kong Shipping
Enterprises (Holdings)
Company Limited (Note) 648,218,000 72.02% 648,218,000 60.02%
Public: | |||||||
Placee(s) | - | - | 180,000,000 | 16.67% | |||
Other public shareholders | 251,782,000 | 27.98% | 251,782,000 | 23.31% |
Total 900,000,000 100.00% 1,080,000,000 100.00%
Note: Chu Kong Shipping Enterprises (Holdings) Company Limited is wholly owned by Guangdong Province Navigation Group Co., Ltd., which is a state-owned company incorporated in the People's Republic of China.
By order of the Board
Chu Kong Shipping Enterprises (Group) Company Limited Huang ShupingExecutive Director
Hong Kong, 13 June 2013
As at the date of this announcement, the executive Directors include Mr. Xiong Gebing and Mr. Huang Shuping; non-executive Directors include Mr. Liu Weiqing, Mr. Yu Qihuo and Mr. Zhang Lei; and independent non-executive Directors include Mr. Chan Kay-cheung, Ms. Yau Lai Man and Mr. Chow Bing Sing.
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