HK Bourse: Release from Lai Sun Garment (Intl) On Connected Deal
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The Stock Exchange of Hong Kong Limited takes no
responsibility for the contents of this
announcement, makes no representation as to its
accuracy or completeness and expressly disclaims
any liability whatsoever for any loss howsoever
arising from or in reliance upon the whole or any
part of the contents of this announcement.
Lai Sun Garment (International) Limited
(Incorporated in Hong Kong with limited liability)
(Stock Code: 0191)
Crocodile Garments Limited
(Incorporated in Hong Kong with limited liability)
(Stock Code: 0122)
(1) DISPOSAL OF 314,800,000 SHARES
IN CROCODILE GARMENTS LIMITED
VERY SUBSTANTIAL DISPOSAL AND CONNECTED
TRANSACTION
FOR LAI SUN GARMENT (INTERNATIONAL) LIMITED
(2) DEVELOPMENT OF THE PROPERTY AT
79 HOI YUEN ROAD, KWUN TONG, HONG KONG
MAJOR AND CONNECTED TRANSACTION
FOR LAI SUN GARMENT (INTERNATIONAL) LIMITED
VERY SUBSTANTIAL DISPOSAL AND CONNECTED
TRANSACTION
FOR CROCODILE GARMENTS LIMITED
FURTHER DELAY IN DESPATCH OF CIRCULARS
As additional time is required for CGL to finalise
certain financial information and for LSG to
finalise the letter from its independent financial
adviser for inclusion in their respective Circulars,
each of LSG and CGL will apply to the Stock Exchange
for a further extension of deadline for despatch
of its Circular to on or before 29th April, 2014.
INTRODUCTION
Reference is made to two joint announcements made
by Lai Sun Garment (International) Limited (“LSG”)
and Crocodile Garments Limited (“CGL”) both dated
4th March, 2014 (“Announcements”) in relation to
the disposal of 314,800,000 shares in CGL by LSG
(“Disposal”) and the joint development of the
property at 79 Hoi Yuen Road, Kwun Tong by LSG and
CGL (“Joint Development”), respectively, and a
joint announcement (“Delay Announcement”) made by
LSG and CGL dated 27th March, 2014 in relation to
the delay in despatch of the Circulars (as defined
in the Announcements). Unless the context requires
otherwise, terms defined herein shall have the same
respective meanings adopted in the Announcements.
FURTHER DELAY IN DESPATCH OF CIRCULARS
As mentioned in the Delay Announcement, each of LSG
and CGL has applied to the Stock Exchange for a
waiver from strict compliance with Rules 14.38 and
14A.49 of the Listing Rules and an extension of
deadline for despatch of its Circular to on or before
24th April, 2014. As CGL requires additional time
to finalise certain historical financial
information relating to the Crocodile Building, and
LSG requires additional time to finalise the letter
from its independent financial adviser with regard
to the basis and assumptions for construction costs,
for inclusion in their respective Circulars in
accordance with the Listing Rules, each of LSG and
CGL will make an application to the Stock Exchange
for a further extension of deadline for despatch
of its Circular to on or before 29th April, 2014.
Source: Stock Exchange of Hong Kong
