GREAT WALL PAN ASIA HOLDINGS 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 Bermuda with limited liability) (Stock Code: 583)
This announcement is made by SCMP Group Limited (the 'Company') pursuant to the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09(2)(a) and Rule 14.37 of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the 'Listing Rules').
The board of directors (the 'Board') of the Company announces that the Company has entered into an agreement in relation to the sale of its media business to a subsidiary of Alibaba Group Holding Limited, which constitutes a very substantial disposal by the Company under Chapter 14 of the Listing Rules (the 'Disposal'). Apart from the flagship South China Morning Post newspaper, the agreement includes the acquisition of the magazine, recruitment, outdoor media, events & conferences, education and digital media businesses of the Company.
The Company will release an announcement in accordance with the requirements of Chapter 14 of the Listing Rules in respect of the Disposal as soon as possible.
On behalf of the Board SCMP Group Limited David J. Pang
Chairman
Hong Kong, 11 December 2015
As at the date hereof, the Board comprises: Non-executive Directors
Dr. David J. Pang (Chairman) and Tan Sri Dr. Khoo Kay Peng
Independent Non-executive Directors
Dr. Fred Hu Zu Liu, Dr. the Hon. Sir David Li Kwok Po and Mr. Wong Kai Man
Executive Director
Ms. Kuok Hui Kwong
* for identification purpose only
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