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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1227)

DELAY IN DESPATCH OF CIRCULAR AND

REVISED EXPECTED TIMETABLE IN RESPECT OF THE

  1. PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL
  2. PROPOSED RIGHTS ISSUE ON THE BASIS OF FIVE RIGHTS SHARES FOR EVERY ONE EXISTING SHARE HELD ON THE

RECORD DATE

AT HK$0.035 PER RIGHTS SHARE

Reference is made to the announcement (the "Announcement") of National Investments Fund Limited (the "Company") dated 7 July 2020, in relation to, among others, (1) the proposed increase in authorised share capital and (2) the proposed Rights Issue on the basis of five (5) Rights Shares for every one (1) existing Share held on the Record Date. Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as defined in the Announcement.

DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, (i) further details of (a) the Increase in Authorised Share Capital and (b) the Rights Issue; (ii) a letter of recommendation from the Independent Board Committee to the Independent Shareholders in respect of the Rights Issue; (iii) a letter of advice from the independent financial adviser to the Independent Board Committee and the Independent Shareholders on the Rights Issue; and (iv) a notice convening the EGM, is expected to be despatched to the Shareholders on or before Wednesday, 29 July 2020.

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As additional time is required for the Company to prepare and finalise the information to be contained in the Circular, the despatch of the Circular is expected to be postponed to a date on or before Monday, 24 August 2020.

REVISED EXPECTED TIMETABLE

In view of the delay in the despatch of the Circular, the expected timetable of the Rights Issue and the closure of register of members of the Company are expected to be revised as below:

Event

Timeline

2020

Announcement of the Rights Issue . . . . . . . . . .

. . . . . . . Tuesday, 7 July

Expected despatch date of circular with notice and

  form of proxy for the general meeting . . . . . . .

on or before Monday, 24 August

Latest time for lodging transfers of

  • Shares to qualify for attendance and
  • voting at the general meeting . . . . . . . . . . 4:30 p.m. on Tuesday, 1 September

Closure of register of members of the Company

  • for attending the general meeting (both days inclusive) . . . Wednesday, 2 September to Tuesday, 8 September

Latest time for lodging forms of proxy

  for the purpose of the general meeting . . . . . . 10:00 a.m. on Sunday, 6 September

Record date for determining attendance and

  • voting at the general meeting . . . . . . . . . . . . . . . Tuesday, 8 September Expected date and time of the general meeting . . . 10:00 a.m. on Tuesday, 8 September Announcement of poll results of the general meeting . . . . . . . Tuesday, 8 September Last day of dealings in Shares on a cum-rights basis . . . . . . Wednesday, 9 September First day of dealings in Shares on an ex-rights basis . . . . . . Thursday, 10 September

Latest time for the Shareholders to lodge transfer

  of Shares in order to qualify for the Rights Issue . . . 4:30 p.m. on Friday, 11 September

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Closure of register of members of the Company

  • for the Rights Issue (both dates inclusive) . . . . . . . . . Monday, 14 September to Friday, 18 September

Record Date for determining entitlements to the Rights Issue . . . . Friday, 18 September

Register of members of the Company re-opens . . . . . . . . . Monday, 21 September

Despatch of provisional allotment letters

  • and nil-paid Rights Shares . . . . . . . . . . . . . . . . Monday, 21 September First day of dealings in nil-paid Rights Shares . . . 9:00 a.m. on Wednesday, 23 September Latest time for splitting nil-paid Rights Shares . . . . 4:30 p.m. on Friday, 25 September Latest time of dealings in nil-paid Rights Shares . .4:00 p.m. on Wednesday, 30 September

Latest time for acceptance of, and payment for,

  • the Rights Shares and application
  • for excess Rights Shares . . . . . . . . . . . . 4:00 p.m. on Wednesday, 7 October

Latest time to terminate the Underwriting Agreement

  • and for the Rights Issue to
  • become unconditional . . . . . . . . . . . . . .4:00 p.m. on Thursday, 8 October

Announcement of results of the Rights Issue . . . . . . . . . Wednesday, 14 October

Refund cheques, if any, to be despatched

  • (if the Rights Issue is terminated and in respect of
  • unsuccessful or partially successful
  • application for excess Rights Shares) . . . . . . . on or before Thursday, 15 October

Certificates for fully paid Rights Shares

  • to be despatched . . . . . . . . . . . . . . . on or before Thursday, 15 October Commencement of dealings in fully-paid Rights Shares . . 9:00 a.m. on Friday, 16 October

All times and dates specified in this announcement refer to Hong Kong local time. The Company may make adjustment to the expected timetable as set out above if it considers appropriate. Dates or deadlines specified in this announcement for events in the above timetable are indicative only and may be extended or varied by the Company. Any extension or adjustment to the expected timetable as set out above will be published or notified to the Shareholders and the Stock Exchange as and when appropriate.

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CHANGES OF BOOK CLOSURE PERIODS AND THE RECORD DATE

The Shareholders should note that as a result of the change in the expected timetable:

  1. the register of members of the Company will be closed from Wednesday, 2 September 2020 to Tuesday, 8 September 2020 (both days inclusive) for determining the identity of the Shareholders entitled to attend and vote at the EGM;
  2. the register of members of the Company will be closed from Monday, 14 September 2020 to Friday, 18 September 2020 (both days inclusive) for determining the entitlements to the Rights Issue; and
  3. the Record Date for determining entitlements to the Rights Issue will be Friday, 18 September 2020.

No transfer of Shares will be registered during the above book closure periods.

EXTENSION LETTER IN RELATION TO THE UNDERWRITING AGREEMENT

As a result of the revisions to the expected timetable of the Rights Issue as set out above, on 27 July 2020, the Company and the Underwriter entered into an extension letter to reflect the changes of the relevant dates for the Rights Issue as referred to in the Underwriting Agreement. Save for such amendments, all other terms and conditions of the Underwriting Agreement shall remain unchanged.

On behalf of the Board

National Investments Fund Limited

Ho Yuk Ming, Hugo

Company Secretary

Hong Kong, 27 July 2020

As at the date of this announcement, the Board of the Company comprises an executive Director, namely Chan Cheong Yee; three non-executive Directors, namely Mr. Wang Ning (Chairman), Ms. Xie Xiangrong and Mr. Huang Hu; and three independent non-executive Directors, namely Mr. Li Li, Mr. Liao Kai and Ms. Wu Xiaoxia.

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National Investments Fund Limited published this content on 27 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2020 09:40:15 UTC