Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.
(Stock Code: 355) | (Stock Code: 617) |
(Stock Code: 78) | (Stock Code: 120) |
RH International Finance Limited
(Incorporated in the British Virgin Islands with limited liability)
(Stock Code: 5425 & 5687)
INSIDE INFORMATION
Discontinuance of negotiations under the
memorandum of understanding
in respect of the possible disposal of the Subject Assets
relating to the logistics business
This joint announcement is made by Century City, Paliburg, Regal, RH International and Cosmopolitan pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Reference is made to the joint announcement dated 1 November 2019 issued by Century City, Paliburg, Regal, RH International and Cosmopolitan in relation to the memorandum of understanding in respect of the possible disposal of the Subject Assets relating to the logistics business ("MOU Announcement").
-
Discontinuance of negotiations under CIDL MOU
As disclosed in the MOU Announcement, on 1 November 2019 (after trading hours), CIDL Seller (being a wholly-owned subsidiary of Cosmopolitan) and CIDL Purchaser (being a wholly-owned subsidiary of Beijing SEIG) entered into the CIDL MOU, pursuant to which the parties agreed to negotiate the sale and purchase of the Subject Assets. Save for the provisions on exclusivity, confidentiality, costs, governing law and jurisdiction in the CIDL MOU, the CIDL MOU is non-legally binding to CIDL Seller and CIDL Purchaser.
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The respective board of directors of Century City, Paliburg, Regal, RH International and Cosmopolitan would like to announce that the exclusivity period for negotiations under the CIDL MOU expired on 15 December 2019, and no definitive agreement in respect of the CIDL Transaction has been entered into between the CIDL Seller and the CIDL Purchaser. The CIDL Seller has decided not to continue the negotiations with the CIDL Purchaser for the subject matter under the CIDL MOU.
Cosmopolitan is actively exploring other opportunities for the divestment of its interests in the Subject Assets relating to the logistic business and will make further announcement as and when appropriate in accordance with the Listing Rules.
-
GENERAL
Century City Group is principally engaged in property development and investment, construction and building related businesses, hotel ownership, hotel operation and management, asset management, aircraft ownership and leasing business and other investments including financial assets investments.
Paliburg Group is principally engaged in property development and investment, construction and building related businesses, hotel ownership, hotel operation and management, asset management, aircraft ownership and leasing business and other investments including financial assets investments.
Regal is a listed subsidiary of Paliburg. Regal Group is principally engaged in hotel ownership business undertaken through Regal Real Estate Investment Trust ("Regal REIT"), hotel operation and management businesses, asset management of Regal
REIT, property development and investment, including those undertaken through P&R Holdings Limited, aircraft ownership and leasing business and other investments including financial assets investments.
Cosmopolitan is a listed subsidiary of Paliburg and, through Paliburg, of Century City. Cosmopolitan Group is principally engaged in property development and investment and other investments, which are mainly focused in the PRC, and investment in financial assets.
- DEFINITIONS
In this joint announcement, the following expressions have the meanings set out below unless the context otherwise requires:
"Beijing SEIG" | Beijing Sports and Entertainment Industry Group Limited, a |
company incorporated in the Cayman Islands with limited | |
liability, the issued ordinary shares of which are listed on the | |
Main Board of the Stock Exchange (Stock Code: 1803) | |
"Century City" | Century City International Holdings Limited, a company |
incorporated in Bermuda with limited liability, the issued | |
ordinary shares of which are listed on the Main Board of the | |
Stock Exchange (Stock Code: 355) | |
"Century City Board" | board of Century City Directors |
"Century City Directors" | directors of Century City |
2 |
"Century City Group" | Century City and its subsidiaries |
"CIDL" | Cosmopolitan International Development Limited, a company |
incorporated in the British Virgin Islands and a wholly-owned | |
subsidiary of CIDL Seller | |
"CIDL MOU" | a memorandum of understanding dated 1 November 2019 and |
entered into between CIDL Seller and CIDL Purchaser in | |
relation to the CIDL Transaction | |
"CIDL Purchaser" | Sino Insight Investments Limited, a company incorporated in |
the British Virgin Islands and a wholly-owned subsidiary of | |
Beijing SEIG | |
"CIDL Seller" | Groupsource Investments Limited, a company incorporated in |
the British Virgin Islands and a wholly-owned subsidiary of | |
Cosmopolitan | |
"CIDL Transaction" | the sale and purchase of the entire issued shares of CIDL and |
all the shareholders loan owing by CIDL to CIDL Seller in | |
accordance with the terms of the CIDL MOU | |
"Cosmopolitan" | Cosmopolitan International Holdings Limited, a company |
incorporated in the Cayman Islands with limited liability, the | |
issued ordinary shares of which are listed on the Main Board of | |
the Stock Exchange (Stock Code: 120) | |
"Cosmopolitan Board" | board of Cosmopolitan Directors |
"Cosmopolitan Directors" | directors of Cosmopolitan |
"Cosmopolitan Group" | Cosmopolitan and its subsidiaries |
"Hong Kong" | the Hong Kong Special Administrative Region of the People's |
Republic of China | |
"Listing Rules" | the Rules Governing the Listing of Securities on the Stock |
Exchange | |
"Paliburg" | Paliburg Holdings Limited, a company incorporated in Bermuda |
with limited liability, the issued ordinary shares of which are | |
listed on the Main Board of the Stock Exchange (Stock Code: | |
617) | |
"Paliburg Board" | board of Paliburg Directors |
"Paliburg Directors" | directors of Paliburg |
"Paliburg Group" | Paliburg and its subsidiaries |
"PRC" | The People's Republic of China, which will, for the purpose of |
this joint announcement, excludes Hong Kong, Macau Special | |
Administrative Region and Taiwan | |
3 |
"Regal" | Regal Hotels International Holdings Limited, a company |
incorporated in Bermuda with limited liability, the issued | |
ordinary shares of which are listed on the Main Board of the | |
Stock Exchange (Stock Code: 78) | |
"Regal Board" | board of Regal Directors |
"Regal Directors" | directors of Regal |
"Regal Group" | Regal and its subsidiaries |
"RH International" | RH International Finance Limited, a company which is a |
wholly-owned subsidiary of Regal and incorporated in the | |
British Virgin Islands, the medium term notes and the senior | |
perpetual securities of which are listed on the Main Board of | |
the Stock Exchange (Stock Code: 5687 and 5425) | |
"RH International Board" | board of RH International Directors |
"RH International Directors" | directors of RH International |
"Stock Exchange" | The Stock Exchange of Hong Kong Limited |
"Subject Assets" | the entire issued shares of CIDL and all the shareholders loan |
owing by CIDL to CIDL Seller |
By order of the board of directors of | By order of the board of directors of |
Century City International | Paliburg Holdings Limited |
Holdings Limited | Eliza Lam Sau Fun |
Eliza Lam Sau Fun | Secretary |
Secretary | |
By order of the board of directors of | By order of the board of directors of |
Regal Hotels International | Cosmopolitan International |
Holdings Limited | Holdings Limited |
Eliza Lam Sau Fun | Eliza Lam Sau Fun |
Secretary | Secretary |
By order of the board of directors of | |
RH International Finance Limited | |
Kenneth Ng Kwai Kai | |
Director |
Hong Kong, 20 December 2019
4
As at the date of this joint announcement, the Century City Board comprises the following members:
Executive directors: | Independent non-executive directors: |
Mr. LO Yuk Sui | Mr. Anthony CHUANG |
(Chairman and Chief Executive Officer) | Ms. Winnie NG, JP |
Mr. Jimmy LO Chun To (Vice Chairman) | Mr. WONG Chi Keung |
Miss LO Po Man (Vice Chairman) | |
Mr. Kenneth NG Kwai Kai | |
(Chief Operating Officer) | |
Mr. Donald FAN Tung | |
Mr. Kelvin LEUNG So Po |
As at the date of this joint announcement, the Paliburg Board comprises the following members:
Executive directors: | Independent non-executive directors: |
Mr. LO Yuk Sui | Mr. Bowen Joseph LEUNG Po Wing, GBS, JP |
(Chairman and Chief Executive Officer) | Ms. Winnie NG, JP |
Mr. Jimmy LO Chun To | Hon Abraham SHEK Lai Him, GBS, JP |
(Vice Chairman and Managing Director) | Mr. WONG Chi Keung |
Mr. Donald FAN Tung | |
(Chief Operating Officer) | |
Miss LO Po Man | |
Mr. Kenneth NG Kwai Kai | |
Mr. Kenneth WONG Po Man |
As at the date of this joint announcement, the Regal Board comprises the following members:
Executive directors: | Non-executive director: |
Mr. LO Yuk Sui | Dr. Francis CHOI Chee Ming, GBS, JP |
(Chairman and Chief Executive Officer) | (Vice Chairman) |
Miss LO Po Man | |
(Vice Chairman and Managing Director) | Independent non-executive directors: |
Ms. Belinda YEUNG Bik Yiu | Ms. Alice KAN Lai Kuen |
(Chief Operating Officer) | Professor Japhet Sebastian LAW |
Mr. Donald FAN Tung | Ms. Winnie NG, JP |
Mr. Jimmy LO Chun To | Mr. WONG Chi Keung |
Mr. Kenneth NG Kwai Kai | |
Mr. Allen WAN Tze Wai |
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As at the date of this joint announcement, the Cosmopolitan Board comprises the following members:
Executive directors: | Non-executive director: |
Mr. LO Yuk Sui | Mr. Francis BONG Shu Ying |
(Chairman and Chief Executive Officer) | |
Mr. Jimmy LO Chun To | Independent non-executive directors: |
(Vice Chairman and Managing Director) | Ms. Alice KAN Lai Kuen |
Miss LO Po Man (Vice Chairman) | Mr. LEE Choy Sang |
Mr. Kenneth WONG Po Man | Mr. David LI Ka Fai |
(Chief Operating Officer) | Hon Abraham SHEK Lai Him, GBS, JP |
Mr. Kelvin LEUNG So Po | |
(Chief Financial Officer) | |
Mr. Kenneth NG Kwai Kai |
As at the date of this joint announcement, the RH International Board comprises the following members:
Directors:
Mr. LO Yuk Sui
Mr. Donald FAN Tung
Mr. Jimmy LO Chun To
Miss LO Po Man
Mr. Kenneth NG Kwai Kai
Mr. Allen WAN Tze Wai
Ms. Belinda YEUNG Bik Yiu
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Disclaimer
Regal Hotels International Holdings Ltd. published this content on 20 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2019 13:10:00 UTC