Key Developments: China Water Affairs Group Ltd (CWAFF.PK)
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7 Mar 2013
$0.02 (+4.48%)
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Latest Key Developments (Source: Significant Developments)
China Water Affairs Group Ltd Announces Proposed Spin-off And Disposal Of Concrete Production Business
China Water Affairs Group Ltd announced that it is exploring the possibility of a separate listing on the main board of the Stock Exchange by way of a spin-off of its concrete production business. A spin-off proposal has been submitted by the Company to the Stock Exchange on December 17, 2012 for its consideration and approval pursuant to Practice Note 15 of the Listing Rules. As the spin-off proposal is at its early stage, no application for such listing has been made and approval by the relevant regulatory authority has yet to be obtained. The proposed spin-off and listing may or may not materialise and the Stock Exchange may or may not grant its approval. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company. Full Article
China Water Affairs Group Ltd Resolves To Declare Interim Dividend
China Water Affairs Group Ltd announced that its Board has resolved to declare an interim dividend of HKD0.02 per ordinary share for the six months ended September 30, 2012 (2011: HKD0.02 per ordinary share). The interim dividend will be payable on or about December 28, 2012 to the shareholders whose names appear on the register of member on December 19, 2012. Full Article
China Water Affairs Group Ltd. Recommends Final Dividend
China Water Affairs Group Ltd. announced that the Directors recommended a final dividend of HKD0.03 (2011: HKD0.03) per ordinary share, which is subject to approval of the shareholders at the forthcoming annual general meeting of the Company to be held on September 7, 2012, and will be payable on or about September 28, 2012, to the shareholders whose names appear on the register of members on September 20, 2012. Full Article
China Water Affairs Group Ltd. Does Not Recommend Interim Dividend
China Water Affairs Group Ltd. announced that the Board has resolved to declare an interim dividend of HKD0.02 per ordinary share for the six months ended September 30, 2011 (2010: HKD0.02 per ordinary share). The interim dividend will be payable on or about January 6, 2012, to the shareholders whose names appear on the register of member on December 23, 2011. Full Article
China Water Affairs Group Ltd. Comments On H1 2012 Outlook
China Water Affairs Group Ltd. announced that it expects the unaudited interim results of the Company for the first half of 2012 to experience a decline compared with the first half of 2011. Full Article
China Water Affairs Group Ltd. Announces Formation Of Joint Venture Company
China Water Affairs Group Ltd. announced that on July 22, 2011, Pingxiang Company, SSD (Shanghai Silver Dragon Investment Limited, company incorporated in the PRC and a wholly owned subsidiary of the Company) and the Company entered into the an equity joint venture agreement pursuant to which the parties agreed to establish a joint venture company which will be principally engaged in tap water production and supply and installation services in Pingxiang, Jiangxi province, PRC. It is expected that the new joint venture company will have a daily water supply capacity of approximately 235,000 tonnes. The total registered capital of the new joint venture company will be RMB267 million, of which the Company will contribute 26% by way of cash, SSD, a subsidiary of the Company, will contribute 25% by way of cash and Pingxiang Company will contribute 49% by way of the injection of the existing water supply business (including water plants, water pipes network and other assets and related liabilities) of Pingxiang Company and its subsidiaries. The Group will own 51% of the new joint venture company and it will be accounted for as subsidiary of the Company. Full Article
China Water Affairs Group Ltd. Announces Loan Facility From Asian Development Bank
China Water Affairs Group Ltd. announced that on July 8, 2011, the Company and Shanghai Silver Dragon Investment Limited (SSD) a wholly owned subsidiary of the Company, entered into the Facility Agreement with Asian Development Bank (ADB) pursuant to which ADB agreed to make available to the Company and SSD a loan facility of up to USD100 million. The loan will be denominated in USD and RMB. The Company and SSD shall apply the amount borrowed for the investment in and construction, operation, maintenance and rehabilitation of water supply projects in the PRC. The Facility Agreement is part of a two phase financing cooperation between the Group and ADB. It is expected that the Group and ADB will start to negotiate for arranging a further loan facility of up to USD100 million under which ADB will act as the lender for record for commercial banks. Full Article
China Water Affairs Group Ltd. Recommends Final Dividend
China Water Affairs Group Ltd. announced that its Directors recommended a final dividend of HKD0.03 (2010: HKD0.03) per ordinary share, will be payable on or about September 23, 2011, to the shareholders whose names appear on the register of members on September 16, 2011. The register of members of the Company will be closed from September 9, 2011, to September 16, 2011 both days inclusive, during which period no transfer of shares of the Company will be registered. In order to qualify for the entitlement to the proposed final dividend for the year ended March 31, 2011 and attending and voting at the annual general meeting, all transfers of shares accompanied by the relevant share certificates and appropriate transfer forms must be lodged with the office of the Company’s Share Registrar in Hong Kong, Tricor Tengis Limited, at 26th Floor, Tesbury Centre, 28 Queen’s Road East, Wanchai, Hong Kong, for registration not later than 4:30 p.m. on September 8, 2011. Full Article
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