CHINA LUMENA NEW MATERIALS CORP 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 document.
(In Provisional Liquidation)(I ncorporated in the Cayman Islands with limited liability)
(Stock Code: 67) ORDER GRANTED BY THE GRAND COURT OF THE CAYMAN ISLANDS ON 26 MAY 2015 AND FURTHER ADJOURNMENT OF HEARING OF THE WINDING UP PETITIONReference is made to: (i) the announcements of the Company dated 3 February 2015 and 17 February 2015 in relation to, among others, the Winding Up Petition; (ii) the announcements of the Company dated 4 March 2015 and 25 March 2015 in relation to the adjournment of the hearing of the Winding Up Petition; (iii) the announcements of the Company dated 25 February 2015 and 25 March 2015 in relation to, among others, the appointment of joint provisional liquidators (the "JPLs") (collectively, the "Announcements"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements, unless otherwise specified.
ORDER GRANTED BY THE GRAND COURT OF THE CAYMAN ISLANDS ON 26 MAY 2015
As set out in the Company's announcement dated 25 March 2015, the hearing of the Winding Up Petition was adjourned to 26 May 2015. At the hearing on 26 May 2015, the Grand Court of the Cayman Islands approved amendments to the Order dated 25
February 2015 (the "New Order"). The New Order empowers the JPLs to, among other things, (i) promote a scheme of arrangement on behalf of the Company, and (ii) appoint advisors, consultants and other personnel to the Company and its subsidiary entities in order to assist the JPLs in the performance of their duties and the promotion of a scheme of arrangement or other restructuring.
Further, the New Order removes the Company's entitlement to instruct other professionally qualified persons for the purpose of providing the Company with advice, assistance and representation in relation to the promotion of a scheme of arrangement or otherwise (save for the power to instruct and retain attorneys on
behalf of the Company for the purpose of directors of the Company proposing to the JPLs a scheme of arrangement or other restructuring, and to appear on behalf of the Company on any hearing of the Winding Up Petition).
At the Court hearing on 26 May 2015, the Court further adjourned the hearing of the
Winding Up Petition to a date to be fixed.
Trading in the shares on the Main Board of The Stock Exchange of Hong Kong Limited has been suspended with effect from 10:56 a.m. on 25 March 2014 and will remain suspended until further notice.
Hong Kong, 29 May 2015
For and on behalf of
Joint Provisional Liquidators
Acting as agents without personal liability
As at the date of this announcement, the Board comprises six Directors, of which Mr. Zhang Zhigang, Mr. Zhang Daming and Mr. Shi Jianping are executive Directors, Mr. Koh Tiong Lu, John, Mr. Wong Chun Keung and Mr. Au Kin Wah are independent non-executive Directors.
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