CHINA AGRI-PRODUCTS EXCHANGE LIMITED 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.
中 國 農 產 品 交 易 有 限 公 司
(Incorporated in Bermuda with limited liability)
(Stock Code: 0149) VOLUNTARY ANNOUNCEMENT FURTHER UPDATE ON THE LEGAL PROCEEDINGS IN WUHAN, THE PRCThe board of directors (the "Board") of China Agri-Products Exchange Limited (the "Company" together with its subsidiaries, collectively the "Group") voluntarily made this announcement so as to keep the public informed of the latest development about the legal proceedings in Wuhan, the PRC.
References are made to the announcements of the Company dated 11 January 2011, 22 May 2012, 19 June 2014, 4 July 2014, 13 January 2015, 14 January 2015, 28 May 2015 and 8 January 2016 (the "Previous Announcements") in relation to the civil proceedings in the People's Republic of China (the "PRC") commenced by Ms. Wang Xiu Qun ("Ms. Wang") and 武漢天九工貿發展
有限公司 (Wuhan Tian Jiu Industrial and Commercial Development Co., Ltd.#) ("Tian Jiu") as
plaintiffs against the Company as defendant and joined 武漢白沙洲農副產品大市場有限公司 (Wuhan Baisazhou Agricultural By-product Grand Market Company Limited#) ("Baisazhou") as third party and the judgment received from the Supreme People's Court in January 2015. Unless otherwise defined herein, terms defined in the Previous Announcements have the same meanings when used herein.
The Company received a judgment dated 31 December 2015 on 8 January 2016 ("Judgment"). The Judgment was issued by the Beijing Second Intermediate People's Court ("Beijing Court") and in relation to the administrative cases jointly commenced by Ms. Wang and Tian Jiu against the PRC Ministry of Commerce ("MOFCOM"). Each of the Company and Baisazhou acted as a third party of the said cases. Ms. Wang and Tian Jiu alleged that MOFCOM failed to discharge its statutory duties for handling their application submitted in January 2015 for revoking the approval in relation to the Contended Agreements ("Application").
The Beijing Court ruled in favour of Ms. Wang and Tian Jiu and demanded MOFCOM to handle the Application again within 30 days. MOFCOM has 15 days from the date of service of the Judgment to appeal the Judgment.
The Company will continue to liaise with MOFCOM and closely monitor any further developments and/or any action that MOFCOM may take. The Company will make further announcements either voluntarily or in compliance with the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as and when appropriate.
By Order of the Board
CHINA AGRI-PRODUCTS EXCHANGE LIMITED中國農產品交易有限公司
Chan Chun Hong, ThomasChairman and Chief Executive Officer
Hong Kong, 11 January 2016
As at the date of this announcement, the executive directors of the Company are Mr. Chan Chun Hong, Thomas, Mr. Leung Sui Wah, Raymond and Mr. Yau Yuk Shing, and the independent non-executive directors of the Company are Mr. Ng Yat Cheung, Ms. Lam Ka Jen, Katherine and Mr. Lau King Lung.
# for identification purpose only
China Agri-Products Exchange Limited issued this content on 2016-01-11 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-11 10:43:28 UTC
Original Document: http://www.cnagri-products.com/attachment/2016011118320100002408993_en.pdf
