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.
YUHUA ENERGY HOLDINGS LIMITED
裕 華 能 源 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2728)
PLACING OF NEW SHARES UNDER GENERAL MANDATE
COMPLETION ANNOUNCEMENT
Reference is made to the announcement dated 23 September 2019 (the ''Announcement'') of Yuhua Energy Holdings Limited (the ''Company'') in respect of the Subscription.
Unless otherwise defined, terms used in this announcement shall have the same meaning as those defined in the Announcement.
COMPLETION OF THE SUBSCRIPTION
The Board is pleased to announce that the conditions of the Subscription have been fulfilled and completion of the Subscription took place on 22 November 2019. Pursuant to the Subscription Agreement, 78,000,000 Subscription Shares, representing approximately 2.10% of the issued share capital of the Company as enlarged by the Subscription Shares, have been successfully subscribed by the Subscriber at the Subscription Price of HK$0.122 per Subscription Share.
The gross proceeds from the Subscription are HK$9,516,000. The net proceeds, after deducting all relevant costs and expenses, are approximately HK$9,316,000. Details of the use of the proceeds are set out in the Announcement.
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CHANGE OF THE SHAREHOLDING STRUCTURE
The shareholding structures as at (i) the date of the Announcement, (ii) immediately after the completion of the Subscription and (iii) upon completion of the Subscription and full conversion of the convertible notes issued on 17 July 2019 into conversion shares (assuming there is no other change in the shareholding structure) are as follows:
Shareholding upon | |||||||||||
completion of the | |||||||||||
Subscription and full | |||||||||||
Shareholding immediately | conversion of the convertible | ||||||||||
Shareholding as at the date | upon completion of the | notes issued on 17 July 2019 | |||||||||
of this announcement | Subscription | into conversion shares | |||||||||
Approximately | Approximately | Approximately | |||||||||
Number of | % of Shares | Number of | % of Shares | Number of | % of Shares | ||||||
shares held | in issue | shares held | in issue | shares held | in issue | ||||||
Mr. Lin Caihuo | 928,284,839 | 25.541% | 928,284,839 | 25.005% | 928,284,839 | 21.510% | |||||
Oriental Gold Honour Joy | |||||||||||
International Holdings | |||||||||||
Limited | 892,768,273 | 24.563% | 892,768,273 | 24.048% | 892,768,273 | 20.687% | |||||
Super Wise International | |||||||||||
Investment Limited | |||||||||||
(''Super Wise'') | 540,000,000 | 14.858% | 540,000,000 | 14.545% | 540,000,000 | 12.513% | |||||
The Subscriber | 0 | 0% | 78,000,000 | 2.10% | 78,000,000 | 1.808% | |||||
Win Win International | |||||||||||
Strategic Investment | |||||||||||
Funds SPC | |||||||||||
(''Win Win'') | 0 | 0% | 0 | 0% | 603,004,929 | 13.973% | |||||
Other public Shareholders | 1,273,464,296 | 35.038% | 1,273,464,296 | 34.302% | 1,273,464,296 | 29.509% | |||||
Total | 3,634,517,408 | 100% | 3,712,517,408 | 100% | 4,315,522,337 | 100% | |||||
As disclosed in the above shareholding table, immediately after completion of the Subscription, a minimum of 25% of the issued share capital of the Company is in public hands.
By Order of the Board
Yuhua Energy Holdings Limited
Yuan Hongbing
Executive Director
Hong Kong, 2 December 2019
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As at the date of this announcement, the Company has three executive Directors, namely Mr. Chen Jinle (Chairman), Mr. Lin Caihuo and Mr. Yuan Hongbing, one non-executive Director, namely Mr. Wang Shoulei, and three independent non-executive Directors, namely Mr. Liu Yang, Mr. Tche Heng Hou Kevin and Mr. Gao Han.
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Yuhua Energy Holdings Ltd. published this content on 02 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2019 13:29:08 UTC