HIDILI INDUSTRY INTERNATIONAL DEVELOPMENT 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.
Hidili Industry International Development Limited恒鼎實業國際發展有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 01393) LITIGATION IN GUANGZHOUThis 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 under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The Company hereby announces that 恒鼎實業（中國）集團有限公司 (Hidili Industry (China) Group Limited*) ("Hidili China"), a wholly owned subsidiary of the Company, received a Notice of Court Action attaching the writ of summons ("Writ") issued by the Higher People's Court of Guangdong
Province of the People's Republic of China (廣東省高級人民法院) on 15 April 2016.
Pursuant to the Writ, China Merchants Bank, Shenzhen Chegongmiao Branch ("Plaintiff") filed a civil complaint against (i) Hidili China, (ii) 六盤水恒鼎實業有限公司 (Liupanshui Hidili Industry Co., Ltd*) ("Liupanshui Hidili"), a wholly owned subsidiary of the Company, (iii) 盤縣喜樂慶煤業 有限公司 (Panxian Xileqing Coal Industry Co., Ltd*) ("Panxian Xileqing"), a wholly owned subsidiary of the Company, and (iv) 四川恒鼎實業有限公司 (Sichuan Hidili Industry Co., Ltd.*)
("Sichuan Hidili"), a wholly owned subsidiary of the Company, in respect of a loan agreement dispute case. The Plaintiff claims against Hidili China for relief, among others, the outstanding principal amount and the default interest payment of approximately RMB576 million as of 20 January 2016 under the security agreement entered into between Plaintiff and Hidili China on 13 January 2013 where Liupanshui Hidili and Panxian Xileqing acted as guarantors and Liupanshui Hidili, Panxian Xileqing and Sichuan Hidili pledged certain assets and mining rights.
* For identification purposes only
The Company is seeking legal advice in respect of the above matter. The Company will keep its shareholders and potential investors informed of any further significant development when appropriate. Shareholders of the Company and potential investors should accordingly exercise caution when dealing in the securities of the Company.
By Order of the Board
Hidili Industry International Development Limited Xian YangChairman
Hong Kong 19 April 2016
As at the date of this announcement, the executive directors of the Company are Mr. Xian Yang (Chairman), Mr. Sun Jiankun, Ms. Cheng Yuanyun and Mr. Zhuang Xianwei and the independent non-executive directors of the Company are Mr. Huang Rongsheng, Mr. Sung Wing Sum and Ms. Xu Manzhen.
Hidili Industry International Development Limited published this content on 19 April 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 May 2016 09:27:09 UTC.
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