DowJones News
15 Sep, 2021 12:35

DJ HK Bourse: Announcement From Lai Sun Development

 
    For full details, please click on the following link: 
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0915/2021091501280.pdf 
 
 
    PROPOSED RIGHTS ISSUE ON THE BASIS OF 
ONE (1) RIGHTS SHARE FOR EVERY TWO (2) EXISTING SHARES HELD 
ON THE RECORD DATE 
Sole Global Coordinator and Underwriter 
References are made to the joint announcement of Lai Sun Development Company Limited 
(the "Company") and Lai Sun Garment (International) Limited ("LSG") dated 12 August 
2021 (the "Announcement I"), and the prospectus of the Company (the "Prospectus") 
dated 10 September 2021 in relation to, among others, the proposed Rights Issue on the basis 
of one (1) Rights Share for every two (2) existing Shares held on the Record Date, and the 
joint announcement ("Announcement II") of the Company and LSG dated 20 August 2021, 
in relation to, among others, the revised timetable in relation to the proposed Rights Issue. 
 
    Unless otherwise defined, capitalised terms used herein shall bear the same meanings as 
defined in the Prospectus. 
 
    -1- 
The Company would like to supplement the following information to the Announcement I 
and Prospectus. 
 
    According to the "Stock Connect Southbound Shareholding Search" available on the 
Stock Exchange's website, as at the date of the Announcement I, the Record Date and the 
date of the Prospectus, China Clear held 30,000 Shares, 14,700 Shares and 12,900 Shares, 
which represented approximately 0.005%, 0.002% and 0.002% of the total issued Shares, 
respectively. 
 
    The PRC Southbound Trading Investors who hold Shares on or before the Record Date 
may participate in the Rights Issue through China Clear. China Clear will provide nominee 
services for the PRC Southbound Trading Investors who hold Shares on or before the Record 
Date to (i) sell (in full or in part) their nil-paid Rights Shares through Shenzhen-Hong Kong 
Stock Connect if such nil-paid Rights Shares are listed on the Stock Exchange; and/or (ii) 
subscribe (in full or in part) for their pro rata entitlement in respect of Shares held on the 
Record Date at the Subscription Price under the Rights Issue in accordance with the relevant 
laws and regulations. 
 
    However, China Clear will not support applications by such PRC Southbound Trading 
Investors for Excess Rights Shares under the Rights Issue through Shenzhen-Hong Kong 
Stock Connect. In addition, the PRC Southbound Trading Investors (or the relevant 
China Clear participants, as the case may be) whose stock accounts in China Clear are 
credited with nil-paid Rights Shares can only sell those nil-paid Rights Shares through 
Shenzhen-Hong Kong Stock Connect if such nil-paid Rights Shares are listed on the 
Stock Exchange but cannot purchase any nil-paid Rights Shares nor transfer such nil-paid 
Rights Shares to other PRC Southbound Trading Investors until after the Company 
completes its filing with the CSRC in accordance with the CSRC Notice. 
 
    The PRC Southbound Trading Investors should consult their intermediary (including 
brokers, custodians, nominees or China Clear participants) and/or other professional advisers 
for details of the logistical arrangements as required by China Clear, and provide instructions 
to such intermediary in relation to the acceptance and/or sale of the nil-paid Rights Shares. 
 
    Such instructions should be given in advance of the relevant dates stated in the section 
headed "Expected Timetable" of the Prospectus or the Announcement II and otherwise 
in accordance with the requirements of the intermediary of the PRC Southbound Trading 
Investors and/or China Clear in order to allow sufficient time to ensure that such instructions 
are given effect. 
 
    The Board was advised that, as the Prospectus Documents will not be and are not intended 
to be filed with or approved by the CSRC other than in accordance with the CSRC Notice, 
which is underway, the Rights Shares in nil-paid or fully-paid forms issued to the PRC 
Southbound Trading Investors shall not be offered and may not be offered or sold directly 
or indirectly in the PRC to any person or entity, unless through Shenzhen-Hong Kong 
Stock Connect, or such person or entity has otherwise been exempt by or has obtained the 
necessary and appropriate approvals from the relevant PRC authorities in accordance with 
the applicable PRC laws and regulations. 
 
    -2- 
DEFINITIONS 
In this announcement, unless the context otherwise requires, the following terms shall have 
the following meanings: 
"China Clear"               China Securities Depository and Clearing Corporation Limited 
"CSRC"                      China Securities Regulatory Commission 
"CSRC Notice"               the notice of the CSRC "Filing Requirements for Hong Kong 
Listed Issuers Making Rights Issues to Mainland Shareholders 
through Mainland-Hong Kong Stock Connect" (Prospectus 
[2016] No. 21) 
"PRC Southbound             the PRC investor(s) who hold Shares through China Clear as 
Trading Investor(s)"      nominee under the Shenzhen-Hong Kong Stock Connect 
"Shenzhen-Hong Kong         a securities trading and clearing platform under which PRC 
Stock Connect"            domestic investors may trade in the Stock Exchange via China 
Clear 
 
Source: Hong Kong Exchanges & Clearing 
 

(END) Dow Jones Newswires

September 15, 2021 08:35 ET (12:35 GMT)


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