Nameson : ANNOUNCEMENT PURSUANT TO RULE 13.18 OF THE LISTING RULES
September 23, 2019 at 05:42 am EDT
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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.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1982)
ANNOUNCEMENT PURSUANT TO
RULE 13.18 OF THE LISTING RULES
This announcement is made pursuant to Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'').
THE FACILITY LETTER
The board of directors (the ''Board'') of Nameson Holdings Limited (the ''Company'') announces that on 23 September 2019, the Company as borrower and a bank as lender entered into a facility letter (the ''Facility Letter'') relating to a three-year term loan facility of up to HK$100,000,000.
Pursuant to the Facility Letter, Mr. Wong Ting Chung and his family members will provide prior one month notice to the bank if they consider to reduce their shareholdings to less than 50% beneficial interest in the Company.
As at the date of this announcement, (i) Mr. Wong Ting Chung is the beneficial owner of 200,000,000 shares of the Company; (ii) as beneficiaries of Happy Family Trust, each of Mr. Wong Ting Chung, Mr. Wong Wai Wing, Raymond, Mr. Wong Ting Chun and Mr. Wong Ting Kau is deemed to be interested in 1,500,000,000 shares of the Company held by Nameson Investments Limited, a wholly owned subsidiary of Happy Family Assets Limited, whose entire issued share capital is held by the trustee of Happy Family Trust. Therefore, as at the date of this announcement, Mr. Wong Ting Chung, Mr. Wong Wai Wing, Raymond, Mr. Wong Ting Chun and Mr. Wong Ting Kau collectively maintain, direct or indirectly, approximately 74.6% of the issued share capital of the Company.
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A breach of the aforesaid specific performance obligation will constitute an event of default under the Facility Letter and upon which all accrued interest and any other sums payable under the Facility Letter shall be immediately due and payable.
The Company will, in compliance with Rule 13.21 of the Listing Rules, include appropriate disclosure in its interim and annual reports for so long as circumstances giving rise to the disclosure obligation under Rule 13.18 of the Listing Rules continue to exist.
By order of the Board of
Nameson Holdings Limited
Mr. Wong Ting Chung BBS, JP
Chairman
23 September 2019
As at the date of this announcement, the Board comprises Mr. Wong Ting Chung BBS, JP (Chairman and chief executive officer), Mr. Wong Wai Yue (Vice Chairman), Mr. Wong Wai Wing, Raymond, Mr. Wong Ting Chun and Mr. Li Po Sing as executive Directors; Mr. Tam Wai Hung, David and Mr. Wong Ting Kau, as non-executive Directors; Ms. Fan Chiu Fun, Fanny GBM, GBS, JP, Mr. Kan Chung Nin, Tony SBS, JP, Mr. Ong Chor Wei, Mr. Fan Chun Wah, Andrew JP, Ms. Lee Bik Kee, Betty and Mr. Ip Shu Kwan, Stephen GBS, JP, as independent non-executive Directors.
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Nameson Holdings Ltd. published this content on 23 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2019 09:41:01 UTC
Nameson Holdings Limited is a knitwear manufacture in the People's Republic of China (PRC). The Company offers one-stop in-house solutions for its customers comprising design origination, raw material procurement, sample product development, quality products and timely delivery. Its knitwear products include sweaters, pullovers, cardigans, vests and accessories that are mainly exported to its international apparel brand customers. Apart from its mainstream products which include women'swear and men'swear, the Company also produces children'swear products and knitted accessories such as scarfs, hats and gloves.