ENTERPRISE DEVELOPMENT 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.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.
企 展控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1808)Reference is made to the announcement of Enterprise Development Holdings Limited (the "Company") dated 15 December 2015 (the "Announcement") in relation to, among others, the placing of new shares under general mandate. Unless otherwise specified, capitalized terms used herein shall have the same meanings as those defined in the Announcement.
The Board is pleased to announce that all the conditions precedent set out in the Placing Agreement have been fulfilled and the Placing was completed on 5 January 2016 in accordance with its terms and conditions. An aggregate of 580,450,000 Placing Shares were successfully placed by the Placing Agent to not less than six Placees at HK$0.098 per Placing Share.
To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, the Placees and their ultimate beneficial owner(s) are Independent Third Parties. None of the Placees and their respective associates becomes a substantial shareholder (as defined under the Listing Rules) of the Company upon completion of the Placing.
The net proceeds from the Placing, after deducting the related placing commission, professional fees and all related expenses, is approximately HK$54.9 million. The net price raised per Placing Share is approximately HK$0.095. As stated in the Announcement, the proceeds from the Placing is intended to be used for general working capital of the Group and for funding investment opportunities as may be identified from time to time.
Shareholding structure of the CompanyThe shareholding structure of the Company immediately before and after completion of the Placing are as follows:
Name of Shareholders
Immediately before completion of the Placing No. of Shares Approx%
Immediately after completion of the Placing No. of Shares Approx%
Affluent Start Holdings Limited
(Note)
604,355,000 20.82 604,355,000 17.35
Public Shareholders | 2,297,904,827 | 79.18 | 2,297,904,827 | 65.87 |
Placees | 580,450,000 | 16.67 |
Note: Affluent Start Holdings Limited is a company incorporated in the British Virgin Islands with limited liability which is wholly and beneficially owned by Mr. King Pak Fu.
By Order of the Board
Enterprise Development Holdings Limited Lam Kai TaiChairman
Hong Kong, 5 January 2016
As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Lam Kai Tai (Chairman), Mr. Kwok Ho On Anthony, Mr. Wang Jun and Mr. Wong Ho Sing, and three independent non-executive Directors, namely Mr. Yau Yan Ming Raymond, Ms. Hu Gin Ing and Mr. Liu Kam Lung.
Enterprise Development Holdings Limited issued this content on 2016-01-05 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-05 23:02:34 UTC
Original Document: http://file.irasia.com/listco/hk/enterprisedev/announcement/a160105.pdf
