[ET Net News Agency, 26 July 2019] China Jinmao Holdings Group Limited (00817) said the
company, Sinochem Hong Kong (Group) Company Limited (the vendor) and an investment manager
entered into the Ping An Agreement. The vendor agreed to sell and the investment manager
(a duly appointed investment manager of Ping An) agreed to purchase 1.79 billion Ping An
placing shares at the placing price of HK$4.8106 per share, and the company conditionally
agreed to issue and the vendor conditionally agreed to subscribe for 153.93 million Ping
An subscription shares at the subscription price of HK$4.8106 per share.
Also, the company, the vendor and NCI entered into the NCI Agreement. The Vendor agreed
to sell and NCI agreed to purchase 15.56 million NCI placing shares at the placing price
of HK$4.8106 per share, and the company conditionally agreed to issue and the vendor
conditionally agreed to subscribe for 15.56 million NCI subscription shares at the
subscription price of HK$4.8106 per share.
Assuming that there is no change in the issued share capital of the company from now to
the completion of the subscription save for the issue of the subscription shares, (i) the
placing shares represent 15.33% of the issued share capital of the company as enlarged by
the subscription, and (ii) the subscription shares represent 1.44% of the issued share
capital of the company as enlarged by the subscription.
The placing price represents a discount of 0.61% to the closing price of HK$4.84 per
share on the last trading date.
The aggregate gross proceeds from the subscription will be HK$815.4 million. The company
intends to use the estimated net proceeds from the subscription of HK$814.6 million as
general working capital of the group. (RC)