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.

SPT Energy Group Inc.

華油能源集團有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1251)

COMPLETION OF PLACING OF NEW SHARES

UNDER GENERAL MANDATE

Placing Agent

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

The Board is pleased to announce that as all the conditions of the Placing have been fulfilled, Completion took place on 7 May 2018, and 306,958,000 Placing Shares were allotted and issued to not less than six Placees at the Placing Price of HK$0.78 per Placing Share pursuant to the terms and conditions of the Placing Agreement.

Reference is made to the announcement dated 26 April 2018 (the "Announcement") of SPT Energy Group Inc. (the "Company") in relation to the placing of new Shares of the Company under the general mandate. Unless otherwise specified, terms used herein shall have the same meanings as defined in the Announcement.

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

The Board is pleased to announce that as all the conditions of the Placing have been fulfilled, completion of the Placing Agreement ("Completion") took place on 7 May 2018, and 306,958,000 Placing Shares were allotted and issued to not less than six Placees at the Placing Price of HK$0.78 per Placing Share pursuant to the terms and conditions of the Placing Agreement.

The Placing Shares represents (i) approximately 19.98% of the total number of issued Shares immediately before the Completion, and (ii) approximately 16.65% of the total number of issued Shares immediately after Completion.

The gross proceeds from the Placing are approximately HK$239.4 million, and the net proceeds, after deducting the placing commission, professional fees and all related expenses which may be borne by the Company, from the Placing are estimated to be approximately HK$232 million.

To the best of the Directors' knowledge, information and belief, having made all reasonable enquiry, the Placees (if applicable, together with their respective ultimate beneficial owners) are third parties independent from, not connected or associated with, and not acting in concert with one another or any of the Directors, chief executive or substantial Shareholders of the Company and any of its subsidiaries and their respective associates.

CHANGES IN SHAREHOLDING STRUCTURE OF THE COMPANY

The following table sets out the shareholding structure of the Company (i) immediately before Completion and (ii) immediately after the Completion:

Shareholders

Immediately before CompletionImmediately after Completion

Number of

Approximately

Number of

Approximately

Shares

%

Shares

%

Mr. Wang Guoqiang

489,512,000

31.87

489,512,000

26.56

Mr. Ethan Wu

158,972,000

10.35

158,972,000

8.63

Public Shareholders

Placees

-

-

306,958,000

16.65

Other public Shareholders

887,685,665

57.78

887,685,665

48.16

Total

1,536,169,665

100.00

1,843,127,665

100.00

Notes:

  • 1. Mr. Wang Guoqiang and his family members are the beneficiaries of Truepath Trust, a discretionary trust established by Mr. Wang Guoqiang, and therefore he is deemed to be interested in 489,512,000 shares of the Company held by Red Velvet Holdings Limited via Truepath Limited.

  • 2. (i) Mr. Ethan Wu and his family members are the beneficiaries of Widescope Trust, a discretionary trust established by Mr. Ethan Wu, and therefore he is deemed to be interested in 137,372,000 shares of the Company held by Elegant Eagle Investments Limited via Widescope Holdings Limited. (ii) Mr. Wu and his family members are the beneficiaries of True Harmony Trust, a discretionary trust established by Mr. Ethan Wu, and therefore he is deemed to be interested in 21,600,000 shares of the Company held by Best Harvest Far East Limited via True Harmony Limited.

By Order of the Board SPT Energy Group Inc.

Mr. Wang Guoqiang

Chairman

Hong Kong, 7 May 2018

As at the date of this announcement, the executive directors are Mr. Wang Guoqiang, Mr. Ethan Wu, Mr. Liu Ruoyan and Mr. Li Qiang; the executive directors are Mr. Lin Yang and Ms. Chen Chunhua; the independent non-executive directors are Ms. Zhang Yujuan, Mr. Wu Kwok Keung Andrew and Mr. Wan Kah Ming.

*

For identification purposes only

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SPT Energy Group Inc. published this content on 07 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 May 2018 11:21:07 UTC