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.
COMPLETION OF THE SUBSCRIPTIONS AND
COMPLETION OF VERY SUBSTANTIAL ACQUISITION AND CONNECTED TRANSACTION IN RELATION TO
ACQUISITION OF THE TARGET GROUP
The Board is pleased to announce that completion of the Subscriptions took place on 16 May 2016. Listing of, and permission to deal in, the Aggregate Subscription Shares has been granted by the Stock Exchange.
In addition, the Board is pleased to announce that completion of the Acquisition took place on 16 May 2016 in accordance with the terms and conditions of the Sale and Purchase Agreement.
Reference is made to the circular of the Company dated 31 December 2015 in relation to, among other things, the Acquisition and the proposed grant of the Specific Mandates (the ''Circular'') and the announcement of the Company dated 16 February 2016 in relation to the poll results of the EGM and the announcement of the Company dated 3 May 2016 in relation to, among other things, the Subscriptions (together, the ''Announcements'').
Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular and the Announcements unless otherwise defined herein or the context otherwise requires.
COMPLETION OF THE SUBSCRIPTIONS
The Board is pleased to announce that completion of the Subscriptions took place on 16 May 2016.
Completion of the CCI Subscription Agreement
The Board is pleased to announce that all conditions for completion of the subscription by CCI for the CCI Subscription Shares under the CCI Subscription Agreement have been fulfilled and completion of the CCI Subscription Agreement took place on 16 May 2016 whereby the CCI Subscription Shares, being 100,000,000 new Shares, were allotted and issued by the Company to CCI at the Subscription Price of HK$0.50 per CCI Subscription Share.
Completion of the Investor Subscription Agreements
The Board is also pleased to announce that all conditions for completion of the subscription by the relevant Investor for the relevant Investor Subscription Shares under each of the Investor Subscription Agreements have been fulfilled and completion of each of the Investor Subscription Agreements took place on 16 May 2016 whereby the Investor Subscription Shares, being an aggregate of 261,000,000 new Shares, were allotted and issued by the Company to the Investors at the Subscription Price of HK$0.50 per Investor Subscription Share. None of the Investors have become a substantial shareholder immediately following completion of the issue of the Investor Subscription Shares to the Investors.
Listing of the Aggregate Subscription Shares
Application has been made to the Stock Exchange and the Stock Exchange has granted the approval for the listing of, and permission to deal in, the Aggregate Subscription Shares.
Effect on the Shareholding Structure of the Company
To the best of the Directors' knowledge, information and belief after having made all reasonable enquiries, the shareholding structure of the Company immediately before and after the completion of the Subscriptions are set out below:
Shareholders
Immediately before completion of the
Subscriptions
Immediately after completion of the Subscriptions
Number of
Shares
Approximate
%
Number of
Shares
Approximate
%
Core connected persons
(as defined under the GEM Listing Rules)
Controlling Shareholder
CCI
356,542,000
27.54%
456,542,000
27.57%
Director
Bao Yueqing
2,844,000
0.22%
2,844,000
0.17%
Substantial Shareholder
Yang Shao Hui 209,032,256 16.15% 2 09,032,256 12.63%
Subtotal 568,418,256 43.90% 6 68,418,256 40.37%
Public Shareholders
Investors
Wong Tseng Hon
-
-%
100,000,000
6.04%
Wu Hong
18,225,000
1.41%
78,225,000
4.72%
Chen Zhonglin
10,000,000
0.77%
70,000,000
4.23%
Richard Wong
-
-%
5,000,000
0.30%
Li Kwan Kim
80,000
0.01%
10,080,000
0.61%
Hui Mara
-
-%
26,000,000
1.57%
Other Shareholders
697,973,761
53.91%
6 97,973,761
42.16%
Subtotal 726,278,761 56.10% 9 87,278,761 59.63%
Total 1,294,697,017 100.00% 1,6 55,697,017 1 00.00%
COMPLETION OF VERY SUBSTANTIAL ACQUISITION AND CONNECTED TRANSACTION IN RELATION TO ACQUISITION OF THE TARGET GROUP
The Board is pleased to announce that all conditions precedent to the Acquisition Completion have been satisfied and completion of the Acquisition took place on 16 May 2016. As a result of the Acquisition Completion, the Target Company has become a wholly-owned subsidiary of the Company and the financial results of the Target Group will be consolidated into the financial results of the Company.
By order of the Board
China Communication Telecom Services Company Limited He Chenguang
Chairman
Hong Kong, 16 May 2016
As at the date of this announcement, the executive Directors are Mr. He Chenguang and Mr. Bao Yueqing and the independent non-executive Directors are Mr. Yip Tai Him, Ms. Han Liqun and Ms. Zhang Li.
This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief, the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain at www.hkgem.com on the ''Latest Company Announcements'' page of the GEM website for at least 7 days from the date of its posting and on the website of the Group at www.ccpi.com.hk.
Any discrepancies in any table between totals and sums of amounts listed herein are due to rounding.
China Communication Telecom Services Co. Ltd. published this content on 16 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2016 12:47:04 UTC.
Original documenthttp://www.ccpi.com.hk/pdf/EW08206-ann (1).pdf
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