[ET Net News Agency, 20 October 2014] C.P. Pokphand (00043) said it had submitted an
application to the Stock Exchange regarding the proposed spin-off of Chia Tai Enterprises
International Limited (CTEI) to be effected by way of the distribution.
The company proposes to effect the proposed spin-off by first carrying out the
reorganisation, resulting in CTEI becoming the holding company of both the biochemical
business and the interests in the industrial business, and then declaring a special
interim dividend to shareholders, to be satisfied by way of a distribution in specie of
its holding in the entire issued share capital of CTEI to qualifying shareholders in
proportion to their respective shareholdings in C.P. Pokphand on the distribution record
date.
CTEI Group is engaged in the biochemical business which focuses on the manufacture and
sale of CTC products, and holds interests in a joint venture and an associated company
engaged in the industrial business which focuses on the trading of Caterpillar Products
and the manufacture and sale of carburetors and automotive parts. Upon completion, CTEI
will cease to be a subsidiary of C.P. Pokphand. (HL)