Great China Holdings (Hong Kong) Limited 大中華控股(香港)有限公司
Waytung Global (0021) sells subsidiary with Hennabun stake for HK$10k
Company announcement, 29-Dec-2010
The purchaser is a BVI company, the owner of which is not disclosed. This vehicle, via 100% subsidiary Active Chance Ltd, held a stake in Hennabun Capital Group Ltd, for which the group originally paid HK$59m in 2003. We calculate that by the time of this disposal, the original stake of 32,000,000 shares (10.35% at 31-Dec-2003) had been consolidated into 320,000 shares and diluted to 0.15%, not 0.23% as stated.
Company announcement, 29-Dec-2010
The purchaser is a BVI company, the owner of which is not disclosed. This vehicle, via 100% subsidiary Active Chance Ltd, held a stake in Hennabun Capital Group Ltd, for which the group originally paid HK$59m in 2003. We calculate that by the time of this disposal, the original stake of 32,000,000 shares (10.35% at 31-Dec-2003) had been consolidated into 320,000 shares and diluted to 0.15%, not 0.23% as stated.
China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
China United (0273) buys 37.5m shares (9.64%) of Hennabun Management Inc from Golden Resources (0677) for HK$72m in shares
Company announcement, 11-Mar-2004
Just prior to this deal, HMI is a hub owned by 10 listed companies, including 2 not seen in prior filings: Yugang (0613) has 20.56%, and China Investment Fund Co Ltd (0612) has acquired 2.5m shares (0.64%), probably from Golden Resources.
Company announcement, 11-Mar-2004
Just prior to this deal, HMI is a hub owned by 10 listed companies, including 2 not seen in prior filings: Yugang (0613) has 20.56%, and China Investment Fund Co Ltd (0612) has acquired 2.5m shares (0.64%), probably from Golden Resources.
China United (0273) circular on connected transaction
Company circular, 24-Dec-2003
In the last 3 weeks, subsidiary Hennabun Mangement Inc has issued shares to 2 more listed companies: Heritage (0412) and Sinolink Worldwide (1168), taking the total to 8 in the hub.
Company circular, 24-Dec-2003
In the last 3 weeks, subsidiary Hennabun Mangement Inc has issued shares to 2 more listed companies: Heritage (0412) and Sinolink Worldwide (1168), taking the total to 8 in the hub.
China United (0273) agrees to buy shares in Radford (0901) from Hennabun Management Inc
Company announcement, 2-Dec-2003
It incidentally discloses that another listed company, Beauforte Investors (0021) has subscribed for a 9.56% stake in HMI, so it is now owned by 6 listed companies.
Company announcement, 2-Dec-2003
It incidentally discloses that another listed company, Beauforte Investors (0021) has subscribed for a 9.56% stake in HMI, so it is now owned by 6 listed companies.
Radford (0901) portfolio disclosure and ownership investigation
Company announcement, 29-Oct-2003
The SFC writes: "we note a very close relationship between the shareholders of the Company and its investments". At the suspended price of $1.34, the closed-end investment company was trading at 9.24x its NAV of 30-Sep-2003.
Company announcement, 29-Oct-2003
The SFC writes: "we note a very close relationship between the shareholders of the Company and its investments". At the suspended price of $1.34, the closed-end investment company was trading at 9.24x its NAV of 30-Sep-2003.
HK's Takeunder Code
Three recent "takeunders" of Beauforte Investors, China Internet Global Alliance and Tung Fong Hung have reminded investors how ineffective Hong Kong's takeover code is. In each case, a buyer has been willing to pay a substantial premium for a stake which, while under 35%, is clearly enough to achieve control without making a general offer. Webb-site.com urges the SFC to reduce the threshold for these "takeunder" transactions. (18-Dec-2000)
Three recent "takeunders" of Beauforte Investors, China Internet Global Alliance and Tung Fong Hung have reminded investors how ineffective Hong Kong's takeover code is. In each case, a buyer has been willing to pay a substantial premium for a stake which, while under 35%, is clearly enough to achieve control without making a general offer. Webb-site.com urges the SFC to reduce the threshold for these "takeunder" transactions. (18-Dec-2000)
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