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HKC (HOLDINGS) LTD (0190)

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HKC (Holdings) Ltd : Rights of the Overseas Shareholders in Relation to the Distribution

10/26/2011 | 07:05am US/Eastern
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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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 190) (website: www.hkcholdings.com)

RIGHTS OF THE OVERSEAS SHAREHOLDERS IN RELATION TO THE DISTRIBUTION

Reference is made to the circular of the HKC (Holdings) Limited (the "Company') dated 20 September
2011 in relation to, amongst other things, the Distribution (the "Circular"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as ascribed to them in the Circular.
Rights of the Overseas Shareholders
As at the Record Date, there were 13 Overseas Shareholders whose addresses as registered in the register of members of the Company were outside Hong Kong, namely Australia, Canada, PRC, Macau, Malaysia, New Zealand, Singapore and the United States of America. The Company has made enquiries with foreign legal counsels regarding the legal restrictions under the laws of the relevant jurisdictions and the requirements of the relevant regulatory bodies or stock exchanges regarding the making of the Distribution to those Overseas Shareholders. Based on the advice and replies provided by the relevant foreign legal counsels, the Directors are of the view that it is necessary or expedient not to make the Distribution to those Overseas Shareholders whose addresses are in Canada due to the time and costs involved in the registration of the Circular and/or compliance with the applicable legal or regulatory requirements or special formalities in this jurisdiction if the Distribution were to be lawfully made to such Overseas Shareholders.
Accordingly, the Company will not distribute CRE Shares to such Overseas Shareholders under the Distribution. Such CRE Shares would be sold in the market as soon as practicable after dealings in the CRE Shares commence if a premium, net of expenses, can be obtained. Any proceeds of sale, after deduction of expenses, will be distributed in Hong Kong currency to such Overseas Shareholders at their own risk unless the amount falling to be distributed to any such Overseas Shareholders shall be less than HK$100, in which case such amount will not be distributed but will be retained for the benefit of the Company.
By order of the Board
HKC (HOLDINGS) LIMITED CHANG Li Hsien, Leslie
Executive Director and Chief Executive Officer
Hong Kong, 26 October 2011
As at the date of this announcement, the Board comprises 10 directors, of which 3 are executive directors, namely, Mr. OEI Kang, Eric, Mr. CHANG Li Hsien, Leslie and Mr. CHUNG Wai Sum, Patrick; 3 are non-executive directors, namely, Mr. OEI Tjie Goan, Ms. YEN Teresa and Mr. WAN Ming Sun; 4 are independent non-executive directors, namely, Mr. FAN Yan Hok, Philip, Mr. CHUNG Cho Yee, Mico, Mr. CHENG Yuk Wo and Mr. Albert Thomas DA ROSA, Junior.
* For identification purposes only

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