Oceanwide Holdings Co., Ltd. completed the acquisition of an additional 0.22% stake in Hutchison Harbour Ring Ltd. for HKD 11.8 million.
The following director would resign including Executive Directors Fok Kin Ning, Canning, Lai Kai Ming, Dominic, Tsui Kin Tung, Tony, Chow Woo Mo Fong, Susan and Edith Shih, Ronald Joseph Arculli, and three independent Non-Executive Directors, Kwan Kai Cheong, Lam Lee G, Lan Hong Tsung, David would resign. The following would be appointed including Han Xiaosheng, Liu Bing, Liu Hongwei and Liu Guosheng will be appointed as executive Directors, Qin Dingguo, Zheng Dong, Zhao Yingwei and Qi Zixin will be appointed as non-executive Directors, and Liu Jipeng, Cai Hongping, Yan Fashan and Lo Wa Kei Roy will be appointed as independent non-executive Directors.
The tender offer commences on November 27, 2014 and will close on December 18, 2014. Oceanwide Holdings does not intend to exercise any right to acquire compulsorily any outstanding shares not acquired under the offers after the close of the offer. Oceanwide Holdings intends to maintain the listing of Hutchison Harbour Ring. The Board of Hutchison Harbour Ring recommends the shareholders to accept the offer.
CITIC Securities Corporate Finance (HK) Limited acted as the financial adviser to Oceanwide. Somerley Capital Limited acted as financial advisor for the independent committee of Hutchison. CITIC Securities Corporate Finance (HK) Limited acted as the financial adviser to Oceanwide. Somerley Capital Limited acted as financial advisor for the independent committee of Hutchison. Computershare Hong Kong Investor Services Limited acted as registrar and PricewaterhouseCoopers acted as accountant for Hutchison Harbour Ring. Li & Partners acted as legal advisor to Oceanwide Holdings.
Oceanwide Holdings Co., Ltd. (SZSE:000046) completed the acquisition of an additional 0.22% stake in Hutchison Harbour Ring Ltd. (SEHK:715) for HKD 11.8 million on December 18, 2014. Oceanwide Holdings Co., Ltd. had received valid acceptance in respect of a total of 19.73 million shares of Hutchison Harbour Ring Ltd. The Board of Director changes have taken place and the website and principal place of business of Hutchison Harbour Ring has changed.