Key Developments: Prosperity International Holdings HK Ltd (0803.HK)

0803.HK on Hong Kong Stock

0.25HKD
28 Jul 2015
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Latest Key Developments (Source: Significant Developments)

Prosperity International Holdings HK Ltd announces placing of new shares
Thursday, 30 Apr 2015 09:33am EDT 

Prosperity International Holdings HK Ltd:Enters into placing agreement with placing agent, pursuant to which placing agent, being an exclusive placing agent of company, has agreed to procure placees to subscribe for up to 720,000,000 placing shares at placing price of HK$0.238 per placing share.Assuming all placing shares are fully placed, maximum gross proceeds from placing will be HK$171,360,000.Intends to use net proceeds from placing for general working capital of Group and possible investments in the future when opportunities arise.Says placing shares will be issued under General Mandate granted to Directors by a resolution of shareholders passed at AGM.  Full Article

Prosperity International Holdings HK Ltd announces disposal by Prosperity Minerals Investment Ltd of 15 pct equity interest in Anhui Chaodong Cement Co., Ltd
Tuesday, 31 Mar 2015 08:01am EDT 

Prosperity International Holdings HK Ltd:Refers to its announcements dated Se, pt. 292014 and March 27, 2015, whereby it was announced that PMIL, an indirect wholly-owned subsidiary of the Company to the disposal of not more than 15% of the equity interest in ACC.Announces that on March 31, 2015, PMIL as vendor and Anhui Xinli as purchaser entered into the Equity Transfer Agreement, pursuant to which PMIL agreed to sell a 15 pct equity interest in ACC to Anhui Xinli at the Consideration of 580,800,000 Yuan.  Full Article

KLW Holdings Ltd proposes acquisition of 45.45 pct of the issued share capital of Mega Sun Development Limited from Prosperity Real Estate
Sunday, 26 Oct 2014 07:00pm EDT 

KLW Holdings Ltd:Announces that the company has on Oct. 27 entered into a sale and purchase agreement with Prosperity Real Estate Holdings Limited, a company incorporated in Bermuda and an indirect wholly-owned subsidiary of Prosperity International Holdings (H.K.) Limited.Says the Company shall acquire 4,545 ordinary shares in the share capital of Mega Sun Development Limited from Prosperity Real Estate.Says the sale shares represent 45.45 pct of the issued share capital of Mega Sun, which are legally and beneficially owned by Prosperity Real Estate as at the date of the SPA.Says the consideration for the proposed acquisition shall be an aggregate amount of 85,000,000 yuan.  Full Article

Prosperity International Holdings HK Ltd does not recommend final dividend
Friday, 27 Jun 2014 10:49am EDT 

Prosperity International Holdings HK Ltd:Does not recommend payment of final dividend for year ended March 31, 2014 (2013: Nil).  Full Article

Prosperity International Holdings HK Ltd announces issue of 8.25 pct. coupon secured convertible notes
Sunday, 23 Mar 2014 09:00pm EDT 

Prosperity International Holdings HK Ltd:Reference to the March 14, 2014 subscription agreements by Company and ICBC International Investment Management Limited.Issued convertible notes in the aggregate principal amount of $50 million (equivalent to about HK$390 million).Says conditions precedent under the subscription agreements have been fulfilled and the Convertible Notes were issued on March. 21, 2014.  Full Article

Prosperity International Holdings HK Ltd does not recommend dividend
Friday, 29 Nov 2013 07:42am EST 

Prosperity International Holdings HK Ltd:Says no interim dividend has been declared by the Board for the six months ended Sept. 30 (six months ended Sept. 30, 2012: Nil).  Full Article

Prosperity International Holdings HK Ltd Comments On H1 2014 Earnings Guidance
Thursday, 14 Nov 2013 06:11am EST 

Prosperity International Holdings HK Ltd announced that based on a preliminary review of management accounts, the Group expects to record a profit for the first half of 2014 as compared with a loss for the first half of 2013. This is mainly attributable to the increase in gross profit resulting from the increase in the Group’s turnover and the absence of a non-recurring loss of approximately HKD39 million recorded last year; the gain on disposal of a jointly controlled entity; the gain on disposal of an associated company; the reversal of the impairment loss on interests in a jointly controlled entity; and the fair value gain on derivative financial instruments, investment properties and investment properties under development.  Full Article

Prosperity International Holdings (H.K.) Ltd Updates On Acquisition Of Billion Win Capital Limited And Dispute Regarding Mining Rights In Sri Jaya II
Monday, 30 Sep 2013 07:27am EDT 

Prosperity International Holdings (H.K.) Ltd announced that with reference to the announcement made earlier, in relation to the proposed acquisition of the entire equity interests in Billion Win Capital Limited. Rapat Teguh (the holder of the Sri Jaya II Mining Lease) and Phoenix Lake have recently informed the Company that the dispute (the Dispute) regarding the mining rights in Sri Jaya II has now been resolved. The Company was informed that following settlement discussions among themselves, the relevant parties, including Rapat Teguh, Mega Utama and Phoenix Lake entered into a deed of settlement (the Settlement Deed) on August 24, 2013, pursuant to which the parties have agreed to settle their differences as follows: Each party would drop its claims or demands without compensation being paid to it; Each of the Sri Jaya II Mining Agreement and the Sri Jaya II Exclusive Operation Agreement would be terminated without compensation being paid by one party to another; Legal proceedings brought by Rapat Teguh against Mega Utama, Phoenix Lake and others would be dropped without compensation being paid by any party to the other. Upon the execution of the Sri Jaya II New Mining Agreement, Phoenix Lake has provided Rapat Teguh with a prepayment (the ‘Prepayment) of MYR10 million which is deductible against future extractions of iron ore by Phoenix Lake.  Full Article

Prosperity Minerals Holdings Ltd Updates On Recommended Cash Offer By Prosperity International Holdings (H.K.) Limited's Jetgo Development Limited
Tuesday, 3 Sep 2013 02:32am EDT 

On July 22, 2013, Jetgo Bidco announced its intention to make a recommended cash offer (the Offer) to acquire the entire issued and to be issued share capital of Prosperity Minerals Holdings Limited (PMHL), other than the PMHL Shares already held by Prosperity International Holdings (H.K.) Limited (PIHL), at the offer price of 130 pence per PMHL Share. The full terms and conditions of the Offer were set out in the offer document posted to the Independent Shareholders on August 12, 2013 (Offer Document). Jetgo Bidco also announced that each of the conditions to the Offer, as set out in the Offer Document, have been satisfied, and accordingly, the Offer is now declared unconditional in all respects. The Offer will now only remain open for acceptances until September 16, 2013. As on September 2, 2013 (being the first closing date of the Offer), Jetgo Bidco had received valid acceptances from Independent Shareholders in respect of 50,351,619 PMHL Shares, representing approximately 35.11 per cent. of PMHL's Issued Share Capital and 97.72% of the PMHL Shares which are the subject of the Offer. These acceptances include the irrevocable undertakings to accept (or procure the acceptance of) the Offer from certain Independent Shareholders in respect of 36,461,747 PMHL Shares, representing approximately 25.43% of PMHL's Issued Share Capital and 70.76% of the PMHL Shares which are the subject of the Offer, that Jetgo Bidco announced that it had received on August 5, 2013.  Full Article

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