Hsin Chong Group Holdings Limited

11/08/2018 | Press release | Distributed by Public on 11/08/2018 05:24

INSIDE INFORMATION WINDING UP PETITION IN RELATION TO A SUBSIDIARY

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.

HSIN CHONG GROUP HOLDINGS LIMITED อ׹ණྠછٰϞࠢʮ̡

(Incorporated in Bermuda with limited liability)

(Stock Code: 00404)

US$300 MILLION 8.75% SENIOR NOTES DUE 2018

(Stock Code: 5513)

US$150 MILLION 8.50% SENIOR NOTES DUE 2019

(Stock Code: 5607)

INSIDE INFORMATION

WINDING UP PETITION IN RELATION TO A SUBSIDIARY

This announcement is made by Hsin Chong Group Holdings Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

On 7 November 2018, Hsin Chong Construction (Asia) Limited, which is a wholly owned subsidiary of the Company (the "Subsidiary") received a petition filed by Kitchen Infinity Corp. Limited (the "Petitioner") for an order that the Subsidiary may be wound up by the High Court of the Hong Kong Special Administrative Region (the "High Court") pursuant to the Companies (Winding Up and Miscellaneous Provision) Ordinance (Cap. 32, Laws of Hong Kong).

The petition was filed against the Subsidiary for failure to settle a sum of HK$1,195,000 for construction costs payable.

The winding up petition will be heard before the High Court at 9:30 am on 9 January 2019.

The Company will seek legal advice on the matter. Further announcement will be made as and when appropriate.

CONTINUED SUSPENSION OF TRADING IN THE SHARES AND DEBT SECURITIES

Trading in the shares and debt securities of the Company has been suspended since 3 April 2017 and will continue to be suspended until further notice. The conditions to a resumption of trading were set out in the Company's announcement dated 12 June 2017.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares and other securities of the Company.

By Order of the Board of

Hsin Chong Group Holdings Limited

WANG Guozhen

Vice Chairman and Executive Director

Hong Kong, 8 November 2018

As at the date of this announcement, the Board comprises Mr. LIN Zhuo Yan as the Non-executive Chairman and Non-executive Director; Mr. WANG Guozhen (Vice Chairman),

Ir Dr Joseph CHOI Kin Hung (Chief Executive Officer), Mr. Wilfred WU Shek Chun (Chief Risk Officer) and Mr. Eric TODD as Executive Directors; Mr. YAN Jie, Mr. CHEN Lei, Mr.

CHUI Kwong Kau and Mr. LUI Chun Pong as Non-executive Directors; and Mr. CHENG Sui Sang, Mr. George YUEN Kam Ho, Dr. LAM Lee G. and Dr. LO Wing Yan William, JP as Independent Non-executive Directors.