FAR EAST HOLDINGS INTERNATIONAL 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.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 36) POSITIVE PROFIT ALERT
This announcement is made by Far East Holdings International Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.09 of 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, Laws of Hong Kong). The Company refers to its announcement of 17 July 2015 and terms defined in that announcement are used in this announcement with those meanings.
The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company and potential investors that, based on a preliminary review and assessment of the Group's unaudited management accounts, it is likely that the Group will record an unaudited profit attributable to shareholders of the Company for the six months ended 30 June 2015, as compared to the loss attributable to the shareholders for the corresponding period in 2014. The improvement of the Group's results was mainly attributable to (i) realized gains from investment comprising listed equity securities held for trading and available-for-sale investments; and (ii) an unrealized fair value gain from investments in listed equity securities held for trading.
The Group is still in the process of finalizing its consolidated interim results for the six months ended 30 June 2015. As such, this announcement is made solely on the basis of an assessment by the Board with reference to the unaudited financial information of the Group available for the time being, and the information in it has not been confirmed or audited by the Company's auditors and may be subject to adjustment after further internal review by the Board and review by the auditors of the Company.
Details of the Group's financial performance will be contained in the interim results of the Group for the six months ended 30 June 2015, which are expected to be published on or before 28 August 2015.
Amongst other things, the Company's announcement of 17 July 2015 disclosed that it had entered into Subscription Agreements for, amongst other things, the possible subscription of new Shares and that if the Subscription Agreements are completed, that will lead to a change in control of the Company and a mandatory general offer under Rule 26.1 of the Takeovers Code unless the Whitewash Waiver is granted.
For the purposes of the Takeovers Code, the current offer period relating to the Company commenced on 17 July 2015.
- 1 -
This positive profit alert announcement constitutes a profit forecast for the purposes of Rule
10 of the Takeovers Code and as it is made during an offer period, the Company is required
to comply with the requirements of Rule 10 of the Takeovers Code with respect to profit
forecasts. The profit forecast in this announcement does not meet the standard required by
Rule 10 and Shareholders and potential investors should exercise caution in placing reliance
on the forecast.
Amongst other things, the profit forecast in this announcement must normally be reported on by the Company's auditors and financial adviser and the relevant reports must be contained in the next document to be sent to Shareholders but this requirement will not apply if the consolidated interim results for the six months ended 30 June 2015 are announced and the relevant results together with the notes to the financial statements are included in the next document sent to Shareholders.
The Directors consider that it is unlikely that any document will be sent to Shareholders before publication of the interim results of the Group for the six months ended 30 June 2015. The consolidated interim results for the six months ended 30 June 2015 are expected to be announced before the next document to be sent to Shareholders and if so, the results, together with the notes to those financial statements, will be included in the next document to be sent to Shareholders.
If that does not occur and a document is sent to Shareholders by the Company before publication of the consolidated interim results for the six months ended 30 June 2015, the profit forecast in this announcement will be reported on by the Company's auditors and financial adviser and the relevant reports will be contained in the next document sent by the Company to Shareholders.
By Order of the Board of
Far East Holdings International Limited Yu Pak Yan, PeterExecutive Director
Hong Kong 30 July 2015
At the date of this announcement, the Board comprises six Directors, of which three are executive Directors, namely, Mr. Derek Chiu, Mr. Yu Pak Yan, Peter and Mr. Fok Chi Tak; and three are independent non-executive Directors, namely, Mr. Chan Ming Sun, Jonathan, Dr. Wong Yun Kuen and Ms. Kwan Shan.
The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement contained in this announcement misleading.
- 2 -
|
distributed by
|
