China Chaintek United Co., Ltd Further re scrip dividend (8318L)

TIDMCTEK

RNS Number : 8318L

China Chaintek United Co., Ltd

30 April 2015

 
 Press Release   30 April 2015

China Chaintek United Co., Ltd

("ChainTek" or the "Company")

Further re scrip dividend

China Chaintek United Co., Ltd (AIM: CTEK), the provider of logistics services to manufacturers of consumer goods in China, is pleased to announce that the reference price for the Company's final scrip dividend of 4 pence per share has been set at 49.6 pence. This is the average of the middle market quotations for the Company's ordinary shares for the ex-dividend date of 23 April 2015 and the four subsequent dealing days.

Subject to approval at the Company's annual general meeting to be held on 8 May 2015, a total of up to 4,735,935 new ordinary shares will be issued on 20 May 2015 in respect of the scrip dividend. Shareholders' entitlements will be calculated as the number of ordinary shares held at the close of business on 24 April 2015 multiplied by the dividend of 4.0 pence per share divided by the reference price of 49.6 pence. Entitlements will be rounded down and no fractions of new ordinary shares will be allotted.

Application will be made for the new Ordinary Shares issued to be admitted to trading on the AIM market of the London Stock Exchange. The new Ordinary Shares will on issue rank pari passu in all respects with the existing Ordinary Shares and will rank for all future dividends. Certificates in respect of new Ordinary Shares will be posted to shareholders who hold their existing Ordinary Shares in certificated form, at the risk of the person entitled thereto, on 20 May 2015. Dealings in the new Ordinary Shares are expected to begin on 20 May 2015.

Depositary Interest holders who hold Depositary Interests on 24 April 2015 will be allotted and issued their new Ordinary Shares as uncertificated shares on 20 May 2015 unless the Company is unable to do so under the provisions of the Companies Law (2013 Revision) of the Cayman Islands or the facilities and requirements of CREST, in which case such shares will be issued as certificated shares and share certificates for such new Ordinary Shares will be posted to such shareholders at their own risk on 20 May 2015. Where new Ordinary Shares are issued as Depositary Interests, the Company will procure that Computershare Investor Services PLC is instructed to credit the shareholder's stock account in CREST with such shareholder's entitlement to new Depositary Interests. The stock account will be an account under the same participant ID and member account ID as the Depositary Interests from which the new Depositary Interests are derived.

- Ends -

For further information:

 
 China Chaintek United          www.chaintek-united-ir.com 
  Co., Ltd 
 Derrick Wong (Finance                       +65 9227 8485 
  Director)                              +86 159 8597 3034 
 
 ZAI Corporate Finance 
 Peter Trevelyan-Clark 
  / Wei Wang (Nomad)                  +44 (0) 20 7060 2220 
 Steven Baird (Broker) 
 
 Abchurch Communications 
 Henry Harrison-Topham 
  / Quincy Allan                      +44 (0) 20 7398 7714 
 chaintek@abchurch-group.com        www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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