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.
GROUND INTERNATIONAL DEVELOPMENT LIMITED
(Incorporated in Bermuda with limited liability)
(Stock Code: 989)
Reference is made to the announcement (the "Announcement") of Ground International Development Limited (the "Company") dated 10 September 2019 in relation to, among other things, the forced sale (the "Forced Sale") of Shares held by the controlling shareholder of the Company. Capitalised terms used herein shall have the same meaning as those defined in the Announcement unless the context requires otherwise.
The Company was further informed by Ms. Cui that regarding the Forced Sale by the stockbroker (the "Relevant Broker") mentioned in the Announcement, a total of 7,730,000 Shares (which were placed in securities trading account with margin facilities) held by Charm Success and Ka Yik respectively, representing approximately 0.15% of the total issued share capital of the Company, were involved in the Forced Sale.
Immediately after the completion of the Forced Sale and as at the date of the Announcement, the aggregate percentage interest of Charm Success and Ka Yik in the Company has been reduced from approximately 74.63% to approximately 74.48% of the total issued share capital of the Company.
The Company was also advised by Ms. Cui that the margin financing arrangements between the Relevant Broker and each of Charm Success and Ka Yik, respectively, have been terminated and the outstanding amounts under the said arrangements have been fully settled, and the security created over the Shares deposited with the Relevant Broker has been fully discharged.
By order of the Board
Ground International Development Limited
Hong Kong, 11 September 2019
As at the date of this announcement, the executive Directors are Ms. Cui Xintong and Ms. Liu Hongjian; the non-executive Director is Mr. Cong Peifeng and the independent non-executive Directors are Mr. Tsang Hung Kei, Mr. Zhu Zuoan and Mr. Wang Xiaochu.