CHINA RESOURCES AND TRANSPORTATION GROUP 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.
CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED中國資源交通集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 269) HOLDING ANNOUNCEMENTReferences are made to the announcements of China Resources and Transportation Group Limited (the "Company") dated 29 December 2016 and 30 December 2016 in relation to, among others, trading halt in the shares of the Company and a proposed disposal (the "Proposed Disposal") of the Company.
The Company makes this holding announcement to inform its shareholders of the current status of the Proposed Disposal.
On 28 December 2016 and 30 December 2016, Cheer Luck Technology Limited, a wholly- owned subsidiary of the Company, entered into four disposal agreements with four independent purchasers, namely (i) Inner Mongolia Yuanheng Investment Co. Ltd.* (內蒙古源恒投資 有限公司); (ii) Hohhot Economic and Technological Development Zone Investment and Development Group Co. Ltd.* (呼和浩特經濟技術開發區投資開發集團有限責任公司);
Hohhot Huizeheng Investment Co. Ltd.* (呼和浩特惠則恒投資有限責任公司); and
Deyuan Xingsheng Industrial Co. Ltd.* (德源興盛實業有限公司), in relation to the disposal of an aggregate of 71% of the equity interests in Inner Mongolia Zhunxing Heavy Haul Expressway Company Limited* (內蒙古准興重載高速公路有限責任公司) (the "Target Company").
* For identification purpose only
The total consideration to be received from the Proposed Disposal will be determined based on the valuation reports of the Target Company to be prepared by the independent valuers.
The Company is in the process of preparing the announcement in relation to the Proposed Disposal and the directors of the Company consider that additional time is required for such purpose. An announcement setting out, among others, details of the Proposed Disposal will be published as and when appropriate.
Suspension of trading in the shares of the Company will continue until the publication of the announcement in relation to the Proposed Disposal.
By Order of the Board
China Resources and Transportation Group Limited Cao ZhongChairman
Hong Kong, 6 January 2017
As at the date of this announcement, the board of directors of the Company comprises six executive Directors, namely Mr. Cao Zhong, Mr. Fung Tsun Pong, Mr. Duan Jingquan, Mr. Tsang Kam Ching, David, Mr. Gao Zhiping and Mr. Jiang Tao; a non-executive Director namely Mr. Suo Suo Stephen; and four independent non-executive Directors, namely Mr. Yip Tak On, Mr. Jing Baoli, Mr. Bao Liang Ming and Mr. Xue Baozhong
CRTG - China Resources and Transportation Group Limited published this content on 06 January 2017 and is solely responsible for the information contained herein.
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