Scheme of Arrangement update: proposed adjournment
July 21 2010 - 2:00AM
UK Regulatory
TIDMETC
RNS Number : 6556P
Et-china.com International Holdings
21 July 2010
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS IN THAT JURISDICTION
ET-CHINA.COM INTERNATIONAL HOLDINGS LIMITED
("Et-china" or "the Company")
Scheme of Arrangement update: proposed adjournment of Scheme Court Hearing
Further to recent announcements, the Company gives notice that it will not be
seeking the sanction of the Scheme at the Scheme Court Hearing scheduled to be
held on 22 July 2010 at 2.30 p.m. but instead will be seeking to adjourn the
Scheme Court Hearing and the Reduction Court Hearing until further notice.
Kuoni has informed the Company that Kuoni is currently unable to conclude that
certain conditions to the Scheme have been satisfied or can be waived due to
certain ongoing legal and regulatory matters in connection with a certain part
of the Company's business. Kuoni and the Company are requesting certain
confirmations from third parties regarding these matters in order to enable
Kuoni to determine as soon as possible whether the relevant conditions to the
Scheme have been satisfied or can be waived. The Company will therefore not be
seeking the sanction of the Scheme at the Scheme Court Hearing but instead will
be seeking to adjourn the Scheme Court Hearing and the Reduction Court Hearing
until further notice.
A further announcement will be made in due course.
For the avoidance of doubt, the Company is not subject to the City Code on
Takeovers and Mergers ("City Code") and accordingly investors should be aware
that they are not afforded the protections of the City Code.
Any capitalised term used but not defined in this announcement has the same
meaning as is given to it in the Scheme Circular.
Contact details for enquiries:
+--------------------------------------+------------------------+
| Et-china.com International Holdings | +86 (0)20 3879 5531 |
| Limited | |
+--------------------------------------+------------------------+
| Matthew Ng | |
+--------------------------------------+------------------------+
| | |
+--------------------------------------+------------------------+
| | |
+--------------------------------------+------------------------+
+--------------------------------------+------------------------+
| Seymour Pierce, Nomad and Broker | +44 (0)207 107 8000 |
+--------------------------------------+------------------------+
| Mark Percy | |
+--------------------------------------+------------------------+
| Catherine Leftley | |
+--------------------------------------+------------------------+
| | |
+--------------------------------------+------------------------+
The distribution of this announcement in jurisdictions other than in the United
Kingdom or Jersey may be restricted by law and therefore any persons who are
subject to the laws of any jurisdiction other than the United Kingdom or Jersey
should inform themselves about, and observe, any applicable requirements. This
announcement has been prepared for the purposes of complying with Jersey law and
the AIM Rules and information disclosed may not be the same as that which would
have been disclosed if this announcement had been prepared in accordance with
the laws of any jurisdiction outside the United Kingdom or Jersey.
Copies of this announcement and formal documentation relating to the Proposal
will not be and must not be, mailed or otherwise forwarded, distributed or sent
in, into or from any jurisdiction where to do so would violate the laws in that
jurisdiction.
The Proposal relates to the shares of a Jersey company and is proposed to be
effected by means of a scheme of arrangement under Jersey law. The Proposal will
not be sent to Et-china Shareholders who are resident in, or citizens of, or are
organised or incorporated in, the United States. Accordingly, neither this
announcement nor any other document in connection with the Proposal shall be
released, published or distributed in whole or in part in, into or from the
United States or any other jurisdiction where to do so would constitute a
violation of the relevant laws in that jurisdiction. Neither this announcement
nor any other document in connection with the Proposal shall be forwarded by any
nominee, custodian, broker or other intermediary in, into or from the United
States.
Hong Kong
WARNING
The contents of this announcement and the Scheme Circular have not been reviewed
by any regulatory authority in Hong Kong. You are advised to exercise caution in
relation to the offer. If you are in doubt about any of the contents of this
announcement or the Scheme Circular, you should obtain independent professional
advice.
This announcement and the Scheme Circular do not constitute an offer or
invitation to the public in Hong Kong to subscribe for or dispose of the Scheme
Shares. Accordingly, unless permitted by the securities laws of Hong Kong, no
person may issue or have in its possession for the purposes of issue, this
announcement or any invitation or document relating to the Scheme Shares,
whether in Hong Kong or elsewhere, which is directed at, or the contents of
which are likely to be accessed or read by, the public in Hong Kong other than
in circumstances which do not constitute an offer or an invitation to the public
for the purposes of the Hong Kong Securities and Futures Ordinance. However,
numbered copies of the Scheme Circular may be issued to a limited number of
shareholders in Hong Kong in a manner which does not constitute an issue,
circulation or distribution of this document, or any offer or invitation in
respect of the Scheme Shares, to the public in Hong Kong. Only the person to
whom a numbered copy of the Scheme Circular has been issued may take action in
response to the Scheme Circular. No person to whom a numbered copy of the Scheme
Circular is issued may issue, circulate or distribute this document in Hong Kong
or make or give a copy of this document to any other person.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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