SOURCE: Success Dragon International Holdings Limited
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Shares. SUCCESS DRAGON INTERNATIONAL HOLDINGS LIMITED 勝龍國際控股有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 1182) TERMINATION IN RELATION TO THE ACQUISITION OF 45% INTEREST IN A 5-STAR HOTEL AND LAND FOR HOTEL DEVELOPMENT IN VIETNAM Reference is made to the announcements (the “Announcements”) of Success Dragon International Holdings Limited (the “Company”) dated 30 March 2016, 6 April 2016, 21 April 2016 and 20 May 2016 in relation to, among others, the proposed acquisition of the entire issued share capital in Vabis Building Consultants Engineering Ltd pursuant to the SP Agreement and the Supplemental Deed. Unless otherwise defined, capitalized terms used herein shall have the same meanings as those defined in the Announcements. The Board hereby announces that as the Vendor has difficulty in obtaining the requisite consent for the implementation of the Reorganisation, it is expected that the conditions precedent set out in the SP Agreement cannot be fulfilled by the Long Stop Date. Therefore, on 16 June 2016 (after trading hours), two termination deeds have been entered as follows: (1) a termination deed entered into between SDAH and the Vendor to terminate the SP Agreement and the Supplemental Deed pursuant to the terms and conditions herein with effect from 16 June 2016; and (2) a termination deed entered into between the Company, SDAH and the Agent to terminate the Agency Agreement pursuant to the terms and conditions herein with effect from 16 June 2016. The Board considers that the termination of the Acquisition will not have any material adverse impact on the operation, business nor financial position of the Group. 2 As a result of the termination of the Acquisition, the Circular in relation to the SGM to seek the Shareholders’ approval for, among others, the Acquisition will not be despatch to the Shareholders and the SGM will not be convened. By order of the Board Success Dragon International Holdings Limited Carlos Luis Salas Porras Chairman and executive Director Hong Kong, 16 June 2016 As at the date of this announcement, the executive Directors are Mr. Carlos Luis SALAS PORRAS and Mr. GOH Hoon Leum; the independent non-executive Directors are Mr. YONG Peng Tak, Mr. ER Kwong Wah and Mr. LEUNG Po Hon.
Note: We are not responsible for typo error, price change, substitute item, or available of item from online ads.
http://successdragonintl.com/wp-content/uploads/2016/06/e_SP-Agreement_Termination.pdf]]>
