Cathay International Holdings Ld Lansen's shareholder loan to Natural Dailyhealth (0510L)
April 16 2018 - 7:43AM
UK Regulatory
TIDMCTI
RNS Number : 0510L
Cathay International Holdings Ld
16 April 2018
Cathay International Holdings Limited
("Cathay" or the "Company" or together with its subsidiaries,
the "Group")
Lansen's shareholder loan to Natural Dailyhealth
Hong Kong, 16 April 2018 - Cathay International Holdings Limited
(LSE: CTI.L), an operator and investor in the growing healthcare
sector in the People's Republic of China (the "PRC"), notes that
Lansen Pharmaceutical Holdings Ltd, the Company's 50.56% owned
subsidiary ("Lansen") (HKEX: 503), today announces (the "Lansen
Announcement"), in accordance with the requirements of its Hong
Kong listing, that, on 13 February 2017, Lansen Pharmaceutical
Holdings Limited (the "Lender"), a wholly and directly owned
subsidiary of Lansen, entered into a Shareholder's Loan Agreement
(the "Shareholder's Loan Agreement") with Natural Dailyhealth
Holdings Limited (formerly known as Haotian Holdings Limited)
("Natural Dailyhealth"), pursuant to which the Lender agreed to
provide a shareholder loan to Natural Dailyhealth in proportion to
its shareholding in Natural Dailyhealth and in an aggregate
principal amount up to USD9,166,264.
Natural Dailyhealth is the only platform through which Cathay
and Lansen together develop, operate and manage plant extract and
health businesses. A wholly owned subsidiary of Cathay owns 70% of
Natural Dailyhealth and the Lender owns the remaining 30% of
Natural Dailyhealth. The provision of the shareholder loan was made
by the Lender in proportion to its equity interest in Natural
Dailyhealth and is for the general working capital needs of Natural
Dailyhealth.
It is noted in the Lansen Announcement that Lansen inadvertently
considered, at the time of entering into the Shareholder's Loan
Agreement, that such an agreement was exempt from the disclosure
requirements of the Hong Kong Listing Rules. Lansen has since been
advised that the entry into the Shareholder's Loan Agreement was,
in fact, a notifiable transaction under the Hong Kong Listing Rules
and has, accordingly, taken steps to rectify this oversight by way
of the Lansen Announcement released today.
The full text of the Lansen Announcement containing further
details can be found at
http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0416/LTN20180416809.pdf
and will also be made available at the Announcements & Notices
section of Lansen's homepage at
http://holding.lansen.com.cn//en/newslist.aspx?NodeCode=10002000700050005.
-ENDS-
For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
Consilium Strategic Communications
Mary-Jane Elliott/ Matthew Neal / Lindsey Neville Tel: +44 (0)
203 709 5700
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the growing healthcare sector in the People's Republic
of China (the "PRC"). The Company and its subsidiaries
(collectively the "Group") aim to leverage on growth opportunities
in the strong and growing domestic demand for high quality
healthcare products in the PRC and build its portfolio companies
into market sector leaders with competitive edge. Cathay has
already demonstrated a strong track record of identifying high
growth potential investment opportunities in this area including:
Lansen, a leading specialty pharmaceutical company focused on
rheumatology and dermatology in the PRC; Haizi, a company engaged
in the manufacture, marketing and sale of inositol and its
by-product, di-calcium phosphate; Natural Dailyhealth, a company
engaged in production and sales of plant extracts for use as key
active ingredients in healthcare products; and Botai, a company
engaged in collagen products.
The Group employs approximately 2,000 people across the PRC,
including over 30 specialist corporate and business development
staff based at the holding company's offices in Hong Kong and
Shenzhen. Cathay also has a hotel investment. For more information
please visit the Company's website: www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the mainboard of the Hong
Kong Stock Exchange, is a 50.56% owned subsidiary of Cathay. Lansen
is engaged in the manufacture, distribution and development of
specialty prescription drugs for treatment of autoimmune disorder
in rheumatology and dermatology. Lansen is in the leading market
position in disease modifying anti-rheumatic drugs ("DMARDs") for
treatment of rheumatoid arthritis ("RA") in the PRC. Lansen has
established an extensive distribution network, covering more than
1,000 hospitals in four municipalities, 25 provinces and cities in
the PRC. For more information please visit the Lansen's website:
http://www.lansen.com.cn/en/index.aspx.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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