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.
China Medical & HealthCare Group Limited
(Incorporated in Bermuda with limited liability)
(Stock Code: 383)
SUPPLEMENTAL ANNOUNCEMENT
IN RESPECT OF
ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2018
Reference is made to the annual report of China Medical & HealthCare Group Limited (the "Company", together with its subsidiaries, the "Group") for the year ended 30 June 2018 (the "2017/2018 Financial Year") published by the Company on 31 October 2018 (the "2017/2018 Annual Report"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the 2017/2018 Annual Report.
The board of directors of the Company (the "Board") would like to provide supplemental information on the 2017/2018 Annual Report in relation to the amounts of proceeds (the "Proceeds") used from the Subscription as below.
Proceeds | Proceeds | Remaining | |||
used in | used in the | balance of the | Expected | ||
previous | 2017/2018 | Proceeds | utilisation of | ||
financial | Financial | as at | the remaining | ||
Intended use of the Proceeds | years | Year | 30 June 2018 | Proceeds | |
HK$'000 | HK$'000 | HK$'000 | HK$'000 | ||
i. | An amount of approximately HK$600,000,000 will | 228,102 | 102,839 | 269,059 | 118,802 |
be used for working capital and for expansion of | (to be used by | ||||
the Group's hospital and healthcare, and aged care | 30 June 2019) | ||||
businesses | and 150,257 | ||||
(to be used | |||||
on or before | |||||
30 June 2021) |
- The remaining balance of approximately
HK$299,250,000 will be used for reduction of the
Group's borrowings | 299,250 | - | - | - | |||
Total | 527,352 | 102,839 | 269,059 | 269,059 | |||
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The detailed breakdown of net Proceeds used during the 2017/2018 Financial Year is as follows:-
Proceeds | |||
used in | |||
the 2017/2018 | |||
Financial Year | |||
HK$'000 | |||
For the construction cost of Block D of Nanjing Tongren Hospital | 40,442 | ||
Settled part of the acquisition costs of 30% equity interest of Aveo China | 30,000 | ||
For the purchase and improvement of medical and healthcare equipment | 32,397 | ||
Total | |||
102,839 | |||
The remaining unutilised Proceeds of approximately HK$269,059,000 brought forward to the following financial years is expected to be used as intended for working capital and for expansion of the Group's hospital and healthcare, and aged care businesses such as for the settlement of the construction cost of Block D of Nanjing Tongren Hospital; settlement of the balance of the acquisition costs of 30% equity interest of Aveo China; and for purchase and improvement of medical and healthcare equipment.
Save as disclosed above, all other information and content set out in the 2017/2018 Annual Report remain unchanged. This announcement is supplemental to and should be read in conjunction with the 2017/2018 Annual Report. As at 30 June 2019, approximately HK$118,802,000 of the unutilised Proceeds has been used as intended for the twelve month ended 30 June 2019.
By Order of the Board
China Medical & HealthCare Group Limited
Zhou Liye
Chairman
Hong Kong, 10 October 2019
As at the date of this announcement, the Board comprises:-
Executive Directors
Ms. Chong Sok Un (Deputy Chairman), Mr. Kong Muk Yin, Mr. Guo Meibao and Mr. Zhou Haiying
Non-Executive Directors
Mr. Zhou Liye (Chairman), Dato' Wong Peng Chong, and Mr. Ma Jianting
Independent Non-Executive Directors
Mr. Zhang Jian, Dr. Xia Xiaoning, Dr. Wong Wing Kuen, Albert and Ms. Yang Lai Sum, Lisa
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China Medical & HealthCare Group Ltd. published this content on 10 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2019 09:40:06 UTC