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| Offers Remain Open for Acceptance |
HONG KONG, Aug 5, 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 pm on 5 August 2013, it has received valid acceptances of 2,278,798,485 Shares, or approximately 54.12% 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 3,942,938,336 Shares, representing approximately 93.65% of the issued share capital of PCD Stores.
Wangfujing International will be able to exercise its right of compulsory acquisition once it acquires an additional 12,745,650 Shares, representing approximately 0.30% of the issued share capital of PCD Stores. 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. Dealings in the securities of PCD Stores will be suspended from the close of the Offers up to the withdrawal of the Company's securities from the Hong Kong Stock Exchange.
Shareholders and Optionholders of PCD Stores should be reminded that the Offers remain open for acceptance until such later time and/or date as Belmont may determine and announce in accordance with the Takeovers Code.
WFJ International believes that the Offers at HK$1.2 per share 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.
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: 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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