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 the Cayman Islands with limited liability)
(Stock Code: 8053) EARLY REDEMPTION OF CONVERTIBLE BONDSReference is made to the circular of China Electric Power Technology Holdings Limited (the "Company") dated 11 August 2011 (the "Circular") relating to, amongst other things, the amendments to the terms and conditions of the convertible bonds and adoption of the amended and restated terms and conditions ("the "Amendments"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular unless otherwise defined.
The board of directors (the "Board") of the Company announces that the Company has served a redemption notice to exercise its redemption right under the Amendments of the Convertible Bonds for redeeming an outstanding principal amount of HK$16,400,000 on 28
February 2012, which shall be settled in cash of HK$18,040,000 by the Company pursuant to
the Amendments dated 20 July 2011.
The Board considers that the early redemption could reduce Company's debt position and improve the gearing ratio of the Company and therefore it is in the interests of the Company and its shareholders of the Company as a whole.
Following and as a result of the redemption in the aforesaid amount of HK$16,400,000
Convertible Bonds, the outstanding amount due by the Company to the Convertible
Bondholder under the Convertible Bonds is HK$69,160,000.
Hong Kong, 28 February 2012
By order of the Board
China Electric Power Technology Holdings Limited Li Kangying
Chairman
As of the date of this announcement, the Board comprises
executive Directors, namely Mr. Li Kangying (Chairman), Mr.
Wang Dongbin, Mr. Cheung Jonathan and Mr. Cheng Wai Lam
James, non-executive Director, Mr. Chau King Fai and
independent non-executive Directors, Mr. Yeung Kenneth King
Wah, Mr. Gao Feng and Mr. Chiang Sheung Yee Anthony.
This announcement, for which the Directors collectively and
individually accept full responsibility, includes particulars
given in compliance with the GEM Listing Rules for the
purpose of giving information with regard to the Company. The
Directors, having made all reasonable enquiries, confirm that
to the best of their knowledge and belief the information
contained in this announcement is accurate and complete in
all material respects and not misleading or deceptive, and
there are no other matters the omission of which would make
any statement herein or this announcement misleading.
All Directors jointly and severally accept full
responsibility for the accuracy of information contained in
this announcement and confirm, having made all reasonable
inquiries, that to the best of their knowledge, opinions
expressed in this announcement have been arrived at after due
and careful consideration and there are no other facts not
contained in this announcement, the omission of which would
make any statement in this announcement misleading.
This announcement will
remain on the "Latest Company Announcements" page of the GEM
website at www.hkgem.com for at least seven days from the
date of its publication and on the Company's website at
www.ceptchina.com.