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Hong Leong Asia Ltd. - Increase of Shareholding in China Yuchai International Limited
5 July 2016 at 12:00:00 am
On 12 May 2016, Hong Leong Asia Ltd. ("HLA" or the "Company") had announced that its subsidiary, China Yuchai International Limited ("CYI"), a company listed on the New York Stock Exchange, had declared a dividend of US$0.85 per share for the financial year ended 31 December 2015, and that the said dividend would be made either wholly in cash or in new shares in CYI at the option of its shareholders ("CYI Dividend").
In connection with the CYI Dividend, the Board of Directors of the Company wishes to announce that its wholly-owned subsidiaries, HL Technology Systems Pte Ltd ("HLTS") and Well Summit Investments Limited ("WSIL"), both shareholders of CYI, had elected to receive the CYI Dividend payable to them in the form of ordinary shares of US$0.10 each of CYI ("Dividend Shares") in lieu of cash. Accordingly, HLTS and WSIL had on 29 June 2016 been allotted 681,581 and 489,736 Dividend Shares respectively which numbers were determined based on the volume weighted average trading price of CYI's shares on the New York Stock Exchange during the period from 20 June 2016 to and including 22 June 2016 at US$11.0227 per CYI share. The aggregate consideration for the Dividend Shares allotted to HLTS and WSIL was US$12,911,075.90.
Following the allotment of the Dividend Shares to HLTS and WSIL, the HLA group now holds in aggregate 16,360,845 ordinary shares and one special share of US$0.10 in CYI, representing approximately 40.19% of the enlarged issued and paid-up share capital of CYI comprising 40,712,100 ordinary shares and one special share as at 29 June 2016.
By Order of the Board
HONG LEONG ASIA LTD.
Ng Siew Ping, Jaslin
5 July 2016
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