INTEGRATED WASTE SOLUTIONS GROUP 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.
Integrated Waste Solutions Group Holdings Limited
綜合環保集團有限公司*
(Incorporated in the Cayman Islands with limited liability, stock code: 923)
VOLUNTARY ANNOUNCEMENT
A CONTRACT AWARDED BY THE ENVIRONMENTAL PROTECTION DEPARTMENT
IN RELATION TO WASTE ELECTRICAL AND ELECTRONIC EQUIPMENT TREATMENT FACILITY
This announcement is made by Integrated Waste Solutions Group Holdings Limited (the "Company") on a voluntary basis to keep the shareholders of the Company and public investors informed of the latest business development of the Company and its associated company.
The board of directors of the Company ("Board") is pleased to announce that ALBA Integrated Waste Solutions (Hong Kong) Limited ("ALBA IWS"), an associated company of the Company, has executed a letter of acceptance issued by the Environmental Protection Department of the Government of the Hong Kong Special Administrative Region ("HKSARG") on 14 April 2015 (the "Contract"). Pursuant to the Contract, ALBA IWS agreed to design, construct, operate and maintain a waste electrical and electronic equipment ("WEEE") treatment plant, and an ancillary collection network to collect and recycle WEEE for a period of 10 years commencing from the operation of the treatment plant. As an awarded contractor, ALBA IWS shall be permitted to use a piece of land, with an approximate area of 30,105 square meters located at EcoPark, Tuen Mun, New Territories, provided by the HKSARG for constructing the treatment plant. It is expected that the construction of the treatment
plant will commence in mid-2015, and the treatment plant is expected to commence operation in 2017, with an operating capacity of approximately 30,000 tonnes per year. The estimated awarded sum including capital value and total operation fee is approximately HK$1,727 million.
ALBA IWS is a limited company incorporated in Hong Kong, which is indirectly owned as to 25% by the Company, 73% by ALBA Asia Limited and 2% by Erdwich Vertriebs GmbH. ALBA IWS is engaged in WEEE collection and treatment business.
To the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, ALBA Asia Limited and Erdwich Vertriebs GmbH and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons as defined in the Rules Governing the Listing Securities on The Hong Kong Stock Exchange Limited.
ALBA IWS's partnership blends the expertise of three distinguished companies, leveraging on their respective technical excellence and global expertise to create a tailor-made solution for Hong Kong's WEEE and to deliver the best possible service.
Hong Kong, 15 April 2015
By Order of the Board
Integrated Waste Solutions Group Holdings Limited
CHENG Chi Ming, Brian
Chairman
As at the date of this announcement, the Board comprises three executive directors, namely, Messrs. SUEN Wing Yip, TO Chun Wai and TAM Sui Kin, Chris; three non-executive directors, namely, Messrs. CHENG Chi Ming, Brian (Chairman), TSANG On Yip, Patrick and LAU Sai Cheong; and three independent non-executive directors, namely, Messrs. NGUYEN Van Tu, Peter, CHOW Shiu Wing, Joseph, and WONG Man Chung, Francis.
* Chinese name for identification purpose
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