CITIC ENVIROTECH LTD. CITIC ENVIROTECH LTD
(Company Registration Number: 200306466G)
=============================================================== ESTABLISHMENT OF US$750,000,000 MULTICURRENCY PERPETUAL SECURITIES ISSUANCE PROGRAMME
The Board of Directors of CITIC Envirotech Ltd. (the 'Issuer') is pleased to announce that it has established a US$750,000,000 Multicurrency Perpetual Securities Issuance Programme (the 'Programme'). In connection therewith, the Issuer has appointed DBS Bank Ltd. to act as the sole arranger and the dealer of the Programme.
Under the Programme, the Issuer may, subject to compliance with all relevant laws, regulations and directives, from time to time issue perpetual securities (the 'Perpetual Securities') in series or tranches in United States dollars, Singapore dollars and/or any other currency as may be agreed between the relevant dealer of the Programme and the Issuer. The Perpetual Securities will be offered by the Issuer pursuant to exemptions invoked under Sections 274 and/or 275 of the Securities and Futures Act (Chapter 289 of Singapore). Each series of the Perpetual Securities may be issued in various amounts and may bear fixed or floating rates of distribution.
The senior Perpetual Securities and the coupons relating to them will constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and shall at all times rank pari passu, without any preference or priority among themselves, and pari passu with all other present and future unsecured obligations (other than subordinated obligations and priorities created by law) of the Issuer. The subordinated Perpetual Securities and the coupons relating to them will constitute direct, unconditional, subordinated and unsecured obligations of the Issuer and shall at all times rank pari passu, without any preference or priority among themselves, and pari passu with any Parity Obligations (as defined in the terms and conditions of the Perpetual Securities) of the Issuer.
The net proceeds arising from each issue of the Perpetual Securities under the Programme (after deducting issue expenses) will be used by the Issuer and/or its subsidiaries for general corporate purposes, including but not limited to the refinancing of existing borrowings, making investments and/or acquisitions, general working capital and corporate purposes.
Application has been made to the Singapore Exchange Securities Trading Limited (the 'SGX-ST') for permission to deal in and quotation for any Perpetual Securities which are agreed at the time of issue thereof to be so listed on the SGX-ST. Such permission will be granted when such Perpetual Securities have been admitted to the Official List of the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein or in the information memorandum dated 14 November 2015 relating to the Programme. Admission to the Official List of, and quotation of any Perpetual Securities on the SGX-ST is not to be taken as an indication of the merits of the Issuer, its subsidiaries, its associated companies (if any), its joint venture companies (if any), the Programme or such Perpetual Securities.
BY ORDER OF THE BOARD
Dr Lin Yucheng
Group CEO and Executive Director 16 November 2015
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