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Wangfujing International Now Holds an Aggregate 61.21% of PCD Stores' Shares
Offers Remain Open for Acceptance by All Shareholders by 23 July 2013 |
HONG KONG, July 17, 2013 - (ACN Newswire) - BELMONT HONG KONG LTD. ("Belmont"), a wholly-owned subsidiary of Beijing Wangfujing International Commercial Development Co., Ltd. ("WFJ International"), announced that, as at 4:00 p.m. on 17 July 2013, it has received valid acceptances of 912,884,290 Shares, or approximately 21.68% of the issued share capital of PCD Stores (Group) Limited ("PCD Stores"; SEHK: 331) on the Share Offer to acquire all of the issued share capital of PCD Stores (the "Offers"). Including the previously acquired 39.53% of PCD Stores' Shares, WFJ International now holds an aggregate of 2,577,024,141Shares, representing approximately 61.21% of the issued share capital of PCD Stores.
Shareholders and Optionholders of PCD Stores should be reminded that the Offers remain open for acceptance and the latest time and date to accept the Offers will be 4:00 p.m. on 23 July 2013 or such later time and/or date as the Offeror may determine and announce in accordance with the Takeovers Code.
The Share Offer Price remains at HK$1.20 per share and a cheque for the amount due to each of the accepting Shareholders will be despatched within seven Business Days following the receipt of their acceptances by PCD Stores' share registrar.
The condition of the Offers was satisfied and the Offers became unconditional in all respects on 9 July 2013.
WFJ International believes that the Offers are attractive to the Shareholders and provide a good opportunity for them to realise their investment in their Shares in return for cash, and it has decided that the Share Offer Price is not to be increased. WFJ International intends to privatise PCD Stores should Belmont receive sufficient acceptances under the Offers.
Beijing Wangfujing International Commercial Development Co., Ltd.
Beijing Wangfujing International Commercial Development Co., Ltd. ("WFJ International") is an investment holding company controlled by Beijing Wangfujing Dongan Group Co., Ltd. WFJ International is the controlling shareholder of Beijing Wangfujing Department Store (Group) Co., Ltd, a listed company on the Shanghai Stock Exchange.
Contact:
Strategic Financial Relations Limited
Heidi So
(852) 2864 4826 / 9461 7088
heidi.so@sprg.com.hk
Cornia Chui
+852 2864 4853 / 9855 8871
cornia.chui@sprg.com.hk
Vanessa Zhang
(852) 2114 4981 / 6208 1156
vanessa.zhang@srpg.com.hk
Topic: Press release summary
Source: PCD Stores (Group) Limited
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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