DORSETT HOSPITALITY INTERNATIONAL LTD Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.
This joint announcement appears for information purposes only and is not intended to and does not constitute, or form part of, any offer to purchase or subscribe for or an invitation to purchase or subscribe for any securities of the Offeror, FEC or Dorsett, nor shall there be any sale, issuance or transfer of securities of Dorsett in any jurisdiction in contravention of applicable law.
遠東發展有限公 司 *
(Incorporated in the Cayman Islands with limited liability)
Website: http://www.fecil.com.hk
(Stock Code: 35) Dorsett Hospitality International Limited帝盛酒店集團有限公司
(Incorporated in the Cayman Islands with limited liability)
Website : http://www.dorsett.com
(Stock Code: 2266)CNY1,000,000,000 5.875 per cent. Bonds due 2016
(Bond Stock Code: 85915)CNY850,000,000 6.0 per cent. Bonds due 2018
(Bond Stock Code: 85917)(Incorporated in the British Virgin Islands with limited liability)
Reference is made to (i) the composite scheme document dated 31 August 2015 as amended by the announcement dated 8 September 2015 (the 'Scheme Document') jointly issued by Far East Consortium International Limited ('FEC'), Dorsett Hospitality International Limited ('Dorsett') and Willow Bliss Limited (the 'Offeror'), and (ii) the announcement of, amongst others, the results of the Court Meeting dated 29 September 2015 jointly issued by FEC, Dorsett and the Offeror. Unless otherwise defined herein or the context otherwise requires, terms defined in the Scheme Document shall have the same meanings when used in this joint announcement. All references in this joint announcement to times and dates are references to Hong Kong times and dates, except as otherwise specified.
* For identification purposes only
Trading in the shares of Dorsett (the 'Dorsett Shares') on the Stock Exchange has ceased after 4:00 p.m. on 5 October 2015 and trading in the CNY850,000,000 6.0 per cent. Bonds due 2018 (Bond Stock Code: 85917) (the 'Dorsett Bonds') on the Stock Exchange will be suspended with effect from 9:00 a.m. on 6 October 2015 pending the release of an announcement (the 'Announcement') in relation to (i) the results of the Grand Court hearing of the petition for the sanction of the Scheme and to confirm the capital reduction; (ii) the expected Effective Date; and (iii) the expected date of withdrawal of listing of Dorsett Shares on the Stock Exchange (the 'Withdrawal of Listing') pursuant to the Takeovers Code. Pursuant to the expected timetable in the Scheme Document, the Announcement is expected to be published on 14 October 2015.
Following the approval of the Scheme by the Independent Dorsett Shareholders on 29 September 2015 in the Court Meeting and subject to the fulfilment or waiver (as applicable) of the Conditions (including the sanction of the Scheme by the Grand Court):
cessation of trading in the Dorsett Shares on the Stock Exchange after 4:00 p.m. on 5 October 2015 will continue until the Withdrawal of Listing, which is expected to be at 4:00 p.m. on 16 October 2015; and
the listing of the Dorsett Shares on the Stock Exchange is expected to be withdrawn at 4:00 p.m. on 16 October 2015.
If the Scheme is not sanctioned by the Grand Court, trading of the Dorsett Shares on the Stock Exchange will resume at 9:00 a.m. on the trading day following the publication of the Announcement, which is expected to be 15 October 2015.
The Dorsett Bonds will continue to be listed on the Stock Exchange and trading in the Dorsett Bonds will resume at 9:00 a.m. on the trading day following the Announcement, which is expected to be 15 October 2015.
'Court Meeting' a meeting of the Scheme Shareholders convened at the
direction of the Grand Court, held at Xinhua Room, Mezzanine Floor, Cosmopolitan Hotel, 387-397 Queen's Road East, Wan Chai, Hong Kong at 2:30 p.m. on 29 September 2015
By order of the Board of
Far East Consortium International Limited CHEUNG Wai Hung BoswellChief Financial Officer and Company Secretary
By order of the Board of
Willow Bliss Limited HOONG Cheong ThardDirector
By order of the Board of
Dorsett Hospitality International Limited WONG Kang Yean ClarenceChief Financial Officer and Company Secretary
Hong Kong, 6 October 2015
As at the date of this joint announcement, the Board of FEC comprises five executive directors namely, Tan Sri Dato' CHIU David, Mr. HOONG Cheong Thard, Mr. CHAN Chi Hing, Mr. CHIU Dennis and Mr. WILLIAMS Craig Grenfell, and three independent non-executive directors, namely Mr. CHAN Kwok Wai, Mr. WONG Man Kong Peter and Mr. LAM Kwong Siu.
The directors of FEC jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this joint announcement have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.
As at the date of this joint announcement, the Board of Dorsett comprises two executive directors namely, Ms. CHIU Wing Kwan Winnie and Mr. LAI Wai Keung, three non-executive directors, namely Tan Sri Dato' CHIU David, Mr. HOONG Cheong Thard and Mr. CHAN Chi Hing, and four independent non-executive directors, namely Mr. SHEK Lai Him Abraham, G.B.S., J.P., Mr. TO Peter, Dr. LIU Ngai Wing and Mr. ANGELINI Giovanni.
The directors of Dorsett jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to FEC Group) and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by FEC Group) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.
As at the date of this joint announcement, the directors of the Offeror are Tan Sri Dato' CHIU David, Mr. HOONG Cheong Thard and Mr. CHAN Chi Hing.
The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this joint announcement have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.
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