|
|
|
|
|
|
| Now Holds an Aggregate of 92.73% of PCD Stores' Shares |
HONG KONG, July 23, 2013 - (ACN Newswire) - BELMONT HONG KONG LTD. ("Belmont"), a wholly-owned subsidiary of Beijing Wangfujing International Commercial Development Co., Ltd. ("WFJ International") and PCD Stores (Group) Limited ("PCD Stores"; SEHK: 331) jointly announced that the closing date for the Share Offer of WFJ International to acquire all of the issued share capital of PCD Stores has been extended to such later date and time as Belmont may announce.
WFJ International has been informed by Golden Eagle, who was a substantial shareholder of PCD Stores as at the date of the Composite Document, that it has accepted the Share Offer in respect of its entire shareholding. As at 4:00 pm on 23 July 2013, Belmont has received valid acceptances of a total of 2,240,094,955 PCD Stores' Shares (representing approximately 53.20% of the issued share capital). Including the previously acquired 39.53% of PCD Stores' Shares, Belmont now holds an aggregate of 3,904,234,806 shares, representing approximately 92.73% of the issued share capital of PCD Stores.
WFJ International will be able to exercise its right of compulsory acquisition once it acquires additional shares representing approximately 1.22% of the issued share capital of PCD Stores within four months after the despatch of the Composite Document in relation to the Offers on 2 July 2013. Upon the completion of the compulsory acquisition, PCD Stores will become a wholly-owned subsidiary of WFJ International and an application will then be made for the withdrawal of the listing of the shares from the Hong Kong Stock Exchange.
In addition, PCD Stores announced that Mr. Edward Tan, an executive Director, and Mr. Randolph Yu, Mr. Ainsley Tai and Mr. Li Chang Qing, the independent non-executive Directors, have resigned from their office with effect from 23 July 2013.
Shareholders and Optionholders of PCD Stores should note that the Offers remain open for acceptance and the Share Offer Price remains at HK$1.20 per share. 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.
About 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@sprg.com.hk
Topic: Merger & Acquisition
Source: PCD Stores (Group) Limited
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
