Hidili Industry Devt : Download2015-12-14Announcements and Notices -

E154789A_Hidili 1..3

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.

FORMATION OF BONDHOLDERS' STEERING COMMITTEE AND APPOINTMENT OF LEGAL AND FINANCIAL ADVISER TO

THE STEERING COMMITTEE

This Announcement is made by Hidili Industry International Development Limited (the ''Company'') pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 30 October 2015 and 4 November 2015 in relation to, among other things, the Company's US$400 million 8.625% senior notes due 2015 (the ''Notes'') with approximately US$182.8 million in principal amount outstanding.

The board of directors of the Company (the ''Board'') would like to provide an update on certain recent developments in relation to the Company and its subsidiaries (the ''Group'').

Following initial discussions with certain holders of the Notes (the ''Holders''), a Steering Committee of Bondholders has been formed. The Steering Committee has retained Latham & Watkins as its legal adviser and has appointed Borrelli Walsh Limited as its independent financial adviser. The Company encourages more Holders to come forward to join the Steering Committee in order to facilitate discussions between the Holders and the Company about a possible restructuring of the Notes. Holders who would like to enquire about joining the Steering Committee should contact any of the following:

Steering Committee Legal Adviser

Latham & Watkins

18th Floor, One Exchange Square 8 Connaught Place

Central, Hong Kong

Attention: Howard Lam / Rainbow Au-Yeung Tel: [phone]

Email: [e-mail] / [e-mail]

Steering Committee Independent Financial Adviser

Borrelli Walsh Limited Level 17, Tower 1

Admiralty Centre 18 Harcourt Road

Central, Hong Kong

Attention: Cosimo Borrelli / Michael Chan Tel: [phone]

Email: [e-mail] / [e-mail]

Company's Financial Advisor

UBS AG Hong Kong Branch

52/F Two International Finance Centre 8 Finance Street

Central, Hong Kong

Attention: Global Capital Markets Tel: [phone]

Email: [e-mail]

There can be no assurance that any discussions with the Group's lenders or any Holder will lead to a proposal acceptable to the lenders or Holders more generally or that discussions with the Group's lenders, the Holders or any potential investors can be progressed to any positive conclusion. Accordingly, the Company offers no assurance that the proposed restructuring of the Notes will be successfully concluded. Shareholders of the Company, Holders, holders of other securities of the Company and potential investors in the securities of the Company are advised to exercise extreme caution when dealing in the securities of the Company.

By Order of the Board

Hidili Industry International Development Limited Xian Yang

Chairman

Hong Kong

14 December 2015

As at the date of this announcement, the executive directors of the Company are Mr. Xian Yang (Chairman) and Mr. Sun Jiankun and the independent non-executive directors of the Company are Mr. Sin Yuen Ko and Mr. Huang Rongsheng.