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HK Bourse: Announcement From China Cosco Holdings Co. Ltd.

7 May 2018 10:03 am
 
    Following is the related link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2018/0507/LTN20180507908.pdf 
 
               (Stock Code: 1919) 
 
   Faulkner Global Holdings Limited 
   (Incorporated in the British Virgin Islands 
             with limited liability) 
 
 
 
 
       Shanghai Port Group (BVI) 
        Development Co., Limited 
        BVI 
       (Incorporated in the British Virgin 
          Islands with limited liability) 
 
                        JOINT ANNOUNCEMENT 
        (1) PRE-CONDITIONAL VOLUNTARY GENERAL CASH OFFER 
               BY UBS ON BEHALF OF THE JOINT OFFERORS 
             TO ACQUIRE ALL OF THE ISSUED SHARES OF OOIL 
  (2) IRREVOCABLE UNDERTAKING BY CONTROLLING SHAREHOLDER 
                        TO ACCEPT THE OFFER 
                                 AND 
(3) VERY SUBSTANTIAL ACQUISITION FOR COSCO SHIPPING HOLDINGS 
 
                                    MONTHLY UPDATE 
 
 
                                             --1-- 
Reference is made to the joint announcement of Faulkner Global Holdings Limited, 
Shanghai Port Group (BVI) Development Co., Limited, COSCO SHIPPING Holdings 
Co., Ltd.* and Orient Overseas (International) Limited dated 7 July 2017 (the "Joint 
Announcement"). Unless the context requires otherwise, capitalized terms used 
herein shall have the same meanings as those defined in the Joint Announcement. 
 
As stated in the Joint Announcement, the making of the pre-conditional voluntary 
general cash offer by UBS, on behalf of the Joint Offerors, for all of the issued shares 
of OOIL held by the Qualifying OOIL Shareholders (the "Offer") is subject to the 
satisfaction or waiver of the Pre-Conditions by the Pre-Conditions Long Stop Date. 
Since the Joint Announcement, steps have been taken in relation to the fulfillment of 
the Pre-Conditions. 
 
As at the date of this announcement, save as disclosed in the joint announcements 
dated 7 September 2017, 16 October 2017, 23 October 2017 and 6 December 2017, 
respectively, made by the Joint Offerors, COSCO SHIPPING Holdings and OOIL, 
there are no further updates on the fulfillment of the Pre-Conditions. The Joint 
Offerors will continue to work towards satisfaction of the Pre-Conditions (a) and (b). 
Further announcement(s) in relation to the latest status of the Offer will be made in 
due course. 
 
WARNING: as the making of the Offer is subject to the satisfaction or waiver of 
the Pre-Conditions, the Offer is a possibility only and may or may not be made. 
It depends on the satisfaction or waiver of the Pre-Conditions. Closing of the 
Offer is subject to the Conditions being fulfilled. Accordingly, the issue of this 
announcement does not in any way imply that the Offer will be completed. The 
transactions contemplated by the Offer may or may not proceed. OOIL 
Shareholders, COSCO SHIPPING Holdings Shareholders and prospective 
investors are advised to exercise caution when dealing in the securities of OOIL 
or COSCO SHIPPING Holdings. 
 
*   For identification purpose only 
 
 
 
 
                                       --2-- 
 
 
Source: Hong Kong Exchanges & Clearing 
 
 

(END) Dow Jones Newswires

May 07, 2018 06:03 ET (10:03 GMT)
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