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.
This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1227)
FURTHER DELAY IN DESPATCH OF CIRCULAR AND REVISED EXPECTED TIMETABLE IN RESPECT OF THE
- PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
- PROPOSED RIGHTS ISSUE ON THE BASIS OF FIVE RIGHTS SHARES FOR EVERY ONE EXISTING SHARE HELD ON THE
RECORD DATE
AT HK$0.035 PER RIGHTS SHARE
References are made to the announcements (the "Announcements") of National Investments Fund Limited (the "Company") dated 7 and 27 July 2020 and 24 August 2020 and 7 September 2020 respectively (the "Delay Announcement"), in relation to, among others, (1) the proposed increase in authorised share capital and (2) the proposed Rights Issue on the basis of five (5) Rights Shares for every one (1) existing Share held on the Record Date. Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as defined in the Announcements.
FURTHER DELAY IN DESPATCH OF CIRCULAR
As disclosed in the Delay Announcement, a circular (the "Circular") containing, among other things, (i) further details of (a) the Increase in Authorised Share Capital and (b) the Rights Issue; (ii) a letter of recommendation from the Independent Board Committee to the Independent Shareholders in respect of the Rights Issue; (iii) a letter of advice from the independent financial adviser to the Independent Board Committee and the Independent Shareholders on the Rights Issue; and (iv) a notice convening the EGM, is expected to be despatched to the Shareholders on or before Thursday, 17 September 2020.
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As additional time is required for the Company to prepare and finalise the information to be contained in the Circular, the despatch of the Circular is expected to be postponed to a date on or before Thursday, 15 October 2020.
REVISED EXPECTED TIMETABLE
In view of the delay in the despatch of the Circular, the expected timetable of the Rights Issue and the closure of register of members of the Company are expected to be revised as below:
Timeline | |
Event | 2020 |
Expected despatch date of circular with notice and
form of proxy for the EGM . . . . . . . . . . . on or before Thursday, 15 October
Latest time for lodging transfers of Shares to qualify
for attendance and voting at the EGM . . . . . . . . 4:30 p.m. on Friday, 23 October
Closure of register of members of the Company for
attending the EGM (both days inclusive) . . . . . . . . . . Tuesday, 27 October to Monday, 2 November
Latest time for lodging forms of proxy for
the purpose of the EGM . . . . . . . . . . . . 10:00 a.m. on Saturday, 31 October
Record date for determining attendance and
voting at the EGM . . . . . . . . . . . . . . . . . . . Monday, 2 November
Expected date and time of the EGM . . . . . . . . 10:00 a.m. on Monday, 2 November
Announcement of poll results of the EGM . . . . . . . . . . . Monday, 2 November
Last day of dealings in Shares on a cum-rights basis . . . . . . . Tuesday, 3 November
First day of dealings in Shares on an ex-rights basis . . . . . . Wednesday, 4 November
Latest time for the Shareholders to lodge transfer of
Shares in order to qualify for the Rights Issue . . . 4:30 p.m. on Thursday, 5 November
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Closure of register of members of the Company for
the Rights Issue (both dates inclusive) . . . . . . . . . . . Friday, 6 November to Thursday, 12 November
Record Date for determining entitlements to the Rights Issue . . . Thursday, 12 November
Register of members of the Company re-opens . . . . . . . . . Friday, 13 November
Despatch of provisional allotment letters and
nil-paid Rights Shares . . . . . . . . . . . . . . . . . . Friday, 13 November
First day of dealings in nil-paid Rights Shares . . . . 9:00 a.m. on Tuesday, 17 November
Latest time for splitting nil-paid Rights Shares . . . | 4:30 p.m. on Thursday, 19 | November |
Latest time of dealings in nil-paid Rights Shares . . | . 4:00 p.m. on Tuesday, 24 | November |
Latest time for acceptance of, and payment for, | ||
the Rights Shares and application for | ||
excess Rights Shares . . . . . . . . . . . . | . . 4:00 p.m. on Friday, 27 | November |
Latest time to terminate the Underwriting | ||
Agreement and for the Rights Issue to | ||
become unconditional . . . . . . . . . . . . | 4:00 p.m. on Monday, 30 | November |
Announcement of results of the Rights Issue . . . . | . . . . . . . Friday, 4 December |
Refund cheques, if any, to be despatched (if the Rights Issue is terminated and
in respect of unsuccessful or partially successful
application for excess Rights Shares) . . . . . . . on or before Monday, 7 December
Certificates for fully paid Rights Shares | |
to be despatched . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | on or before Monday, 7 December |
Commencement of dealings in fully-paid Rights Shares . . . . . . 9:00 a.m. on Tuesday, 8 December
All times and dates specified in this announcement refer to Hong Kong local time. The Company may make adjustment to the expected timetable as set out above if it considers appropriate. Dates or deadlines specified in this announcement for events in the above timetable are indicative only and may be extended or varied by the Company. Any extension or adjustment to the expected timetable as set out above will be published or notified to the Shareholders and the Stock Exchange as and when appropriate.
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CHANGES OF BOOK CLOSURE PERIODS AND THE RECORD DATE
The Shareholders should note that as a result of the change in the expected timetable:
- the register of members of the Company will be closed from Tuesday, 27 October 2020 to Monday, 2 November 2020 (both days inclusive) for determining the identity of the Shareholders entitled to attend and vote at the EGM;
- the register of members of the Company will be closed from Friday, 6 November 2020 to Thursday, 12 November 2020 (both days inclusive) for determining the entitlements to the Rights Issue; and
- the Record Date for determining entitlements to the Rights Issue will be Thursday, 12 November 2020.
No transfer of Shares will be registered during the above book closure periods.
SUPPLEMENTAL EXTENSION LETTER IN RELATION TO THE UNDERWRITING AGREEMENT
As a result of the revisions to the expected timetable of the Rights Issue as set out above, on 17 September 2020, the Company and the Joint Underwriters entered into an supplemental extension letter to reflect the changes of the relevant dates for the Rights Issue as referred to in the Underwriting Agreement. Save for such amendments, all other terms and conditions of the Underwriting Agreement shall remain unchanged.
On behalf of the Board
National Investments Fund Limited
Ho Yuk Ming, Hugo
Company Secretary
Hong Kong, 17 September 2020
As at the date of this announcement, the Board of the Company comprises an executive Director, namely Chan Cheong Yee; three non-executive Directors, namely Mr. Wang Ning (Chairman), Ms. Xie Xiangrong and Mr. Huang Hu; and three independent non-executive Directors, namely Mr. Li Li, Mr. Liao Kai and Ms. Wu Xiaoxia.
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National Investments Fund Limited published this content on 17 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2020 12:04:03 UTC