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  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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