Cathay International Holdings Ld Lansen update re Proposed Disposal (1151P)
June 05 2020 - 4:52AM
UK Regulatory
TIDMCTI
RNS Number : 1151P
Cathay International Holdings Ld
05 June 2020
Cathay International Holdings Limited
("Cathay" or the "Company")
Lansen update re Proposed Further Disposal of Starry Shares
Hong Kong, 5 June 2020 - Cathay International Holdings Ltd.
(LSE: CTI.L), an operator and investor in the healthcare sector in
the People's Republic of China (the "PRC"), announces that, Lansen
Pharmaceutical Holdings Limited ("Lansen", incorporated in the
Cayman Islands) (HKEX: 503), the Company's 52.83% owned subsidiary,
has provided an update regarding the posting a circular by Lansen
regarding the proposals to dispose of Lansen's remaining shares in
Zheijang Starry Pharmaceutical Co., Ltd (Starry) (Further Disposal)
announced on 15 May 2020.
Lansen announced on 4 June 2020 that it requires additional time
to finalise the information to be included in the Circular and now
expects that the date of despatch of the circular will be postponed
to a date on or before 25 June 2020.
The full text of the Lansen Announcement can be found at
https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0604/2020060401342.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)
SPARK Advisory Partners Limited (sponsor)
Andrew Emmott / James Keeshan Tel: +44 (0) 20 3368 3555
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the healthcare sector in the People's Republic of China
(the "PRC"). The Company and its subsidiaries (collectively the
"Group") aim to leverage on investment opportunities in the growing
domestic demand for high quality healthcare products in the PRC and
build portfolio companies into market sector leaders with
competitive edge. Cathay has already demonstrated a track record of
identifying 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 1,300 people across the PRC,
including over 20 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 main board of the Hong
Kong Stock Exchange, is a 52.83% 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 has established an
extensive distribution network, covering more than 1,500 hospitals
in four municipalities, 22 provinces and cities in the PRC. For
more information please visit the Lansen's website:
www.lansen.com.cn/en/index.aspx .
About Starry
Starry, whose shares are listed on the Shanghai Stock Exchange
(stock code: 603520), is 4.00% owned by Lansen. Starry is
specialised in the research and development, manufacture, marketing
and sales of bulk pharmaceuticals and intermediates. One of the
core products of Starry is iohexol for X-CT non-ionic contrast
agents. Starry is the largest generic drug manufacturer of
iohexol's active pharmaceutical ingredients in the PRC and is
experienced in the production management and quality control of
bulk pharmaceuticals. For more information please visit Starry's
website: http://www.starrypharm.com/en/index.aspx .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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