ZIJING INTERNATIONAL FINANCIAL HOLDINGS LIMITED 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.
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(incorporated in the Cayman Islands with limited liability)
(Stock Code: 8340)This announcement is made at the request of the Stock Exchange in respect of the concentration of the shareholding of the Company in the hands of a limited number of Shareholders as at 23 March 2016.
This announcement is made by Vinco Financial Group Limited (the "Company") at the request of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in respect of the concentration of the shareholding of the Company in the hands of a limited number of shareholders of the Company (the "Shareholders") as at 23 March 2016.
The Company noted that an announcement has been published by the Securities and Futures Commission (the "SFC") on 6 April 2016 (the "Announcement").
As disclosed in the Announcement:
The SFC has recently completed an enquiry into the shareholding of the Company. The SFC's findings indicated that as at 23 March 2016, 17 Shareholders held an aggregate of 165,630,000 Shares, representing 25.88% of the issued Shares. Such shareholding, together with the 442,400,000 Shares (representing 69.13% of the issued Shares) held by two substantial Shareholders of the Company, represented 95.01% of the issued Shares as at 23 March 2016. Therefore, only 31,970,000 Shares (representing 4.99% of the issued Shares) were held by other Shareholders.
The information above is extracted from the Announcement and the Company has not independently verified such information. Please refer to the Announcement for more information.
As set out in the Announcement, the shareholding structure of the Company as at 23 March 2016 was as follows:
Number of Shares held | % of total number of issued Shares | |
(Shares) | (%) | |
Mr. Chung Ho Yan (Note 1) | 346,400,000 | 54.13 |
Chiu Lai Yee | 96,000,000 | 15.00 |
A group of 17 shareholders | 165,630,000 | 25.88 |
Other shareholders | 31,970,000 | 4.99 |
640,000,000 | 100.00 |
Note 1: 20,000,000 Shares were held by Mr. Chung Ho Yan, the Chairman and Executive Director of the Company, while 326,400,000 Shares were held by Vinco Asia Limited, a company wholly owned by Mr. Chung Ho Yan.
During the period from 4 January 2016 to 15 February 2016, the Shares closed in the range of HK$0.325 to HK$0.385, and closed at HK$0.360 on 15 February 2016. From 16 February 2016 to 23 March 2016, the closing price increased 153% from HK$0.360 to HK$0.910.
The Company announced on 23 March 2016 after market close its financial results for the year ended 31 December 2015, with net profit attributable to shareholders of the Company of approximately HK$2.53 million (2014: loss approximately HK$6.05 million).
As at 5 April 2016, the closing price of the Shares was HK$1.150, representing an increase of 219% from the closing price of HK$0.360 on 15 February 2016.
Based on the information available and to the best knowledge of the board of directors of the Company (the "Directors") after making all reasonable enquiries of its connected persons, the Company confirms that not less than 25% of the Company's issued Shares are in the hands of the public as at 23 March 2016 and the date of this announcement and the Company is able to comply with the public float requirement under the Rules Governing the Listing of Securities on GEM (the "GEM Listing Rules").
By order of the Board
Vinco Financial Group LimitedAs at the date of this announcement, the executive Directors are Mr. Chung Ho Yan and Mr. Lam Yick Hing; and the independent non-executive Directors are Mr. Yip Tai Him, Mr. Lee Wing Lun and Mr. Tam King Ho, Howard.
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, confirmed that, to the best of their knowledge and belief: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading; (2) there are no other matters the omission of which would make any statement in this announcement misleading; and (3) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.
This announcement will remain on the GEM website athttp://www.hkgem.com on the "Latest Company Announcement" page for at least 7 days from the date of its posting and on the website of the Company at http://www.vinco.com.hk.
Vinco Financial Group Ltd. issued this content on 06 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 April 2016 12:33:04 UTC
Original Document: http://www.vinco.com.hk/files/GLN20160406095.pdf
