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    3344   KYG416571001

GTI HOLDINGS LIMITED

(3344)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2021-09-30 am EDT
0.0170 HKD   -.--%
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GTI : UPDATE ON HEARING FOR APPLICATION FOR DIRECTIONS AND SANCTION OF SCHEME OF ARRANGEMENT

03/12/2021 | 04:52am 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.

GTI HOLDINGS LIMITED

΍ԮණྠϞࠢʮ̡

(a company incorporated in the Cayman Islands with limited liability)

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

(Stock Code: 3344)

UPDATE ON HEARING FOR APPLICATION FOR DIRECTIONS AND

SANCTION OF SCHEME OF ARRANGEMENT

This announcement is made by GTI Holdings Limited (the "Company") pursuant to Rule 13.09 and Rule 13.25 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 7 July 2020, 20 August 2020, 27 August 2020, 28 September 2020, 5 November 2020 and 30 December 2020 (collectively, the "Announcements") in relation to, among other things, the hearings for application for directions and sanction of the Scheme of Arrangement. Unless otherwise stated, capitalised terms used herein shall have the meanings as defined in the Announcements.

As disclosed in the Announcement dated 30 December 2020, the High Court had given directions on the preparation of the documents in relation to the Scheme of Arrangement in the hearing on 22 December 2020 and the hearing for sanction of the proposed Scheme of Arrangement had been tentatively rescheduled on 12 March 2021.

As additional time is required for the Company and the JPLs to finalise the information to be contained in the documents in relation to the Scheme of Arrangement, the Company sought the High Court's leave to re-fix the hearing date for sanction of the proposed Scheme of Arrangement and the High Court has directed that the sanction hearing be re-fixed on 30 June 2021.

Further announcement(s) will be made by the Company as and when appropriate in relation to any material development of the Scheme Meeting and the hearing(s) of the Scheme of Arrangement, and in relation to the definitive date and time for the Scheme Meeting.

Shareholders and potential investors of the Company should exercise caution when they deal or contemplate dealing in the Company's shares or other securities of the Company.

By Order of the Board GTI Holdings Limited

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

Ng Kwok Hung Perry

Executive Director

Hong Kong, 12 March 2021

As at the date of this announcement, the Board comprises (i) Mr. Ng Kwok Hung Perry, Mr. Hao Xiangbin and Mr. Tan Teng Hong as executive Directors; (ii) Mr. Cheung Kiu Cho Vincent as non-executive Director; and (iii) Mr. Chan Shu Kin, Mr. Chung Lim Tung, Mr. Ng Ka Lun and Mr. Zhou Weijia (alias Zhou Yi) as independent non-executive Directors.

Disclaimer

Addchance Holdings Limited published this content on 12 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2021 09:51:06 UTC.


© Publicnow 2021
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Financials ()
Sales 2019 704 M - -
Net income 2019 -586 M - -
Net Debt 2019 638 M - -
P/E ratio 2019 -1,12x
Yield 2019 -
Capitalization 107 M 13,6 M -
EV / Sales 2018 3,75x
EV / Sales 2019 1,85x
Nbr of Employees 2 977
Free-Float 50,8%
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Income Statement Evolution
Managers and Directors
Kan Tse Chief Executive Officer
Kin Lung Pang Chief Operating Officer
Shu Kin Chan Independent Non-Executive Director
Lim Tung Chung Independent Non-Executive Director
Ka Lun Ng Independent Non-Executive Director
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