TIDMCTI
RNS Number : 0891E
Cathay International Holdings Ld
03 November 2020
Cathay International Holdings Limited
("Cathay" or the "Company")
Lansen's seventh share reduction plan of Starry
Hong Kong, 3 November 2020 - Cathay International Holdings Ltd.
(LSE: CTI.L), an operator and investor in the growing healthcare
sector in the People's Republic of China (the "PRC"), announces
that, Lansen Pharmaceutical Holdings Limited ("Lansen",
incorporated in the Cayman Islands) (HKEX: 503), the Company's
52.83% owned subsidiary, has made a regulatory announcement in
accordance with the requirements of its Hong Kong listing.
Lansen has today announced its seventh share reduction plan (the
"Seventh Share Reduction Plan") in relation to its holding in the
shares of Zhejiang Starry Pharmaceutical Co., Ltd. ("Starry")
("Lansen Announcement"). The full text of the Lansen Announcement
can be found at
https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1103/2020110301485.pdf
and will also be made available at the Announcements & Notices
section of Lansen's homepage at
http://holding.lansen.com.cn//en/newslist.aspx?NodeCode=10002000700050005
Before proceeding with a disposal, Lansen is required by the
rules of the China Securities Regulatory Commission to announce a
share reduction plan. Lansen has made such announcements previously
on 9 March 2017, 19 September 2017, 3 April 2018, 20 February 2019,
11 September 2019 and 9 April 2020 in relation to the First Share
Reduction Plan, Second Share Reduction Plan, Third Share Reduction
Plan, Fourth Share Reduction Plan, Fifth Share Reduction Plan and
Six Share Reduction Plan respectively.
(1) Lansen Investments (Hong Kong) Limited ("Lansen HK") and
Full Keen Limited ("Full Keen") disposed an aggregate of 4,175,000
Starry Shares under the First Share Reduction Plan and the details
of such disposal are set out in the announcement and circular dated
15 March 2017 and 28 April 2017 respectively;
(2) Lansen HK did not dispose of any Starry Share under the Second Share Reduction Plan;
(3) Lansen HK disposed an aggregate of 2,400,000 Starry Shares
under the Third Share Reduction Plan and the details of such
disposal are set out in the announcement dated 6 June 2018; and
(4) Lansen HK and Full Keen disposed an aggregate of 5,278,000
Starry Shares under the Fourth Share Reduction Plan and the details
of such disposal are set out in the announcements dated 14 May
2019, 11 June 2019 and 10 September 2019.
(5) Lansen HK disposed an aggregate of 4,451,028 Starry Shares
under the Fifth Share Reduction Plan and the details of such
disposal are set out in the announcements dated 18 September 2019,
25 September 2019 and 12 December 2019.
(6) Lansen HK disposed an aggregate of 4,832,705 Starry Shares
under the Sixth Share Reduction Plan and the details of such
disposal are set out in the announcements dated 17 July 2020, 22
July 2020, 23 July 2020 and 2 November 2020.
The Lansen Announcement reports that on 3 November 2020 Lansen
HK notified Starry about the seventh share reduction plan (the
"Seventh Share Reduction Plan") in relation to its holding in the
Starry Shares and the key points are:
-- Maximum number of Starry Shares that can be disposed: not
more than 4,569,655 Starry Shares for Lansen HK, representing not
more than 1.87% of the total number of issued shares in Starry;
-- Share reduction period: a period of six month commencing on
the third trading day of the Shanghai Stock Exchange immediately
following 4 November 2020, the date of Starry's announcement of the
Seventh Share Reduction Plan (or a period of six month commencing
on the 15th trading day of the Shanghai Stock Exchange immediately
following 4 November 2020 for reduction of Starry Shares through
centralised competitive bidding on the Shanghai Stock
Exchange);
-- Methods of share reduction for Lansen HK: through (a) block
trade sales or (b) centralised competitive bidding system on the
Shanghai Stock Exchange; provided that total amount of share
reduction through block trade sales and the centralised competitive
bidding system in any consecutive ninety days period shall not
exceed 2% and 1% of the total number of issued shares in Starry
respectively.
-- Share reduction price: with reference to the prevailing
trading price of Starry Shares on the Shanghai Stock Exchange.
The notification of the Seventh Share Reduction Plan was given
by Lansen HK to Starry in accordance with the relevant rules and
regulations of the China Securities Regulatory Commission,
governing share reduction by shareholders.
As at the date of this announcement, no definitive or legally
binding agreement relating to disposal of Starry Shares has been
entered into by the Company or Lansen. Lansen will comply with the
applicable requirements and relevant rules and regulations in
relation to further disposal of Starry.
A general and conditional mandate to dispose all or part of the
Starry Shares during certain mandate period in accordance with
certain terms and conditions (the "Starry Disposal Mandate") were
approved by Shareholders of the Company on 15 May 2020 and by
Lansen's shareholders on 13 July 2020. Any disposal under the
Seventh Share Reduction Plan will be made in accordance with the
terms and conditions of the Starry Disposal Mandate. Lansen will
comply with the applicable requirements under the Listing Rules and
other relevant rules and regulations and make further
announcement(s) in this regard as and when appropriate.
- ENDS -
For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
SPARK Advisory Partners Limited (Financial Advisor)
Andrew Emmott / James Keeshan Tel: +44 (0) 20 3368 3555
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the healthcare sector in the People's Republic of China
(the "PRC"). The Company and its subsidiaries (collectively the
"Group") aim to leverage on investment opportunities in the growing
domestic demand for high quality healthcare products in the PRC and
build portfolio companies into market sector leaders with
competitive edge. Cathay has already demonstrated a track record of
identifying investment opportunities in this area including:
Lansen, a leading specialty pharmaceutical company focused on
rheumatology and dermatology in the PRC; Haizi, a company engaged
in the manufacture, marketing and sale of inositol and its
by-products; Natural Dailyhealth, a company engaged in production
and sales of plant extracts for use as key active ingredients in
healthcare products; and Botai, a company engaged in collagen
products.
The Group employs approximately 1,300 people across the PRC,
including over 20 specialist corporate and business development
staff based at the holding company's offices in Hong Kong and
Shenzhen. Cathay also has a hotel investment. For more information
please visit the Company's website: www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the main board of the Hong
Kong Stock Exchange, is a 52.83% owned subsidiary of Cathay. Lansen
is engaged in the manufacture, distribution and development of
specialty prescription drugs for treatment of autoimmune disorder
in rheumatology and dermatology. Lansen has established an
extensive distribution network, covering more than 1,500 hospitals
in four municipalities, 22 provinces and cities in the PRC. For
more information please visit the Lansen's website:
www.lansen.com.cn/en/index.aspx .
About Starry
Starry, whose shares are listed on the Shanghai Stock Exchange
(stock code: 603520). Starry is specialised in the research and
development, manufacture, marketing and sales of bulk
pharmaceuticals and intermediates. One of the core products of
Starry is iohexol for X-CT non-ionic contrast agents. Starry is the
largest generic drug manufacturer of iohexol's active
pharmaceutical ingredients in the PRC and is experienced in the
production management and quality control of bulk pharmaceuticals.
For more information please visit Starry's website:
www.starrypharm.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFIILRLVIII
(END) Dow Jones Newswires
November 03, 2020 05:08 ET (10:08 GMT)
Cathay International Hol... (LSE:CTI)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Cathay International Hol... (LSE:CTI)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
