Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  China Saite Group Co Ltd    0153   KYG2119L1005

CHINA SAITE GROUP CO LTD

(0153)
SummaryChartsNewsCalendarCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector news

China Saite : Announcements and Notices - Inside Information

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/14/2019 | 07:00am EDT

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.

CHINA SAITE GROUP COMPANY LIMITED

中 國 賽 特 集 團

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 153)

INSIDE INFORMATION

This announcement is made by China Saite Group Company Limited (the ''Company'', together with its subsidiaries, the ''Group'') pursuant to Rule 13.09(2) and Rule 13.19 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules''), and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company has received notices of default, statutory demands, writ of summons and winding up petitions from of some its creditors in relation to the outstanding overdue indebtedness arising from the offshore corporate bonds issued by the Company in 2018. As of the date of this announcement, based on the information currently available to the Company, the total unpaid overdue indebtedness is approximately HK$120.6 million (the ''Overdue Indebtedness'').

The Company has been liaising with each of the relevant creditors with a view to reaching consensus on a repayment schedule to resolve the Overdue Indebtedness. The Company failed to repay the Overdue Indebtedness in accordance with the initial repayment schedule as additional time was required to apply for the necessary approval from State Administration of Foreign Exchange for repayment of the bonds in Hong Kong. The Company expects to repay the Overdue Indebtedness before the end of September 2019.

The Company will keep its Shareholders informed of any significant developments and other matters by way of further announcement(s) as and when appropriate.

- 1 -

Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

By Order of the Board

China Saite Group Company Limited

Jiang Jianqiang

Chairman

Hong Kong, 14 July 2019

Unless otherwise specified in this announcement, translations of US$ into HK$ are made in this announcement, for illustration only, at the rate of US$1.00 to HK$7.8393. No representation is made that any amounts in US$ or HK$ could have been or could be converted at that rate or at any other rate or at all.

As at the date of this announcement, the executive Directors of the Company are Mr. JIANG Jianqiang, Mr. SHAO Xiaoqiang, Mr. XU Fanghua, Mr. LIU Zhibo and Mr. HUA Gang; and the independent non-executive Directors are Mr. XU Jiaming, Mr. WU Zhongxian and Mr. YAN Hualin.

- 2 -

Disclaimer

China Saite Group Company Limited published this content on 14 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2019 10:59:08 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CHINA SAITE GROUP CO LTD
07/14CHINA SAITE : Announcements and Notices - Inside Information
PU
07/11CHINA SAITE : Announcements and Notices - Subscription of New Shares under Gener..
PU
07/08CHINA SAITE : Announcements and Notices - Change of Independent Non-executive Di..
PU
05/31CHINA SAITE : Announcements and Notices - Further Announcement on Repayment of D..
PU
05/24CHINA SAITE : Announcements and Notices - Poll Results of the Annual General Mee..
PU
05/17CHINA SAITE : Announcements and Notices - Further Announcement Major Transaction..
PU
05/16CHINA SAITE : to subscribe for Shenwan Hongyuan shares
AQ
05/06CHINA SAITE : Announcements and Notices - Further Announcement on Partial Repaym..
PU
04/16CHINA SAITE : Circulars - Proposals for Re-election of Retiring Directors, Grant..
PU
04/16CHINA SAITE : Form of Proxy for the Annual General Meeting to be Held on Friday,..
PU
More news
Chart CHINA SAITE GROUP CO LTD
Duration : Period :
China Saite Group Co Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA SAITE GROUP CO LTD
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Managers
NameTitle
Xiao Qiang Shao Chief Executive Officer & Executive Director
Jian Qiang Jiang Chairman
Jia Ming Xu Independent Non-Executive Director
Fang hua Xu Executive Director
Chi Shing Luk Independent Non-Executive Director
Sector and Competitors