Shareholder Vendor Purchaser

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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.




                                                                                                 13.51A



   Incorporated Hong Kong under the Companies Ordinance)
(Incorporated inin Hong Kong under the Companies Ordinance
 Stock Code: 40
   Stock Code: 40

                         DISCLOSEABLE TRANSACTION:
                     DISPOSAL OF THE ENTIRE INTEREST IN
                    FORTUNE WAY DEVELOPMENTS LIMITED
                   AND ASSIGNMENT OF SHAREHOLDER’S LOAN




The Board announces that on 10 March 2009, the Vendor entered into the Share Purchase
Agreement with the Purchaser and the Novation of Loan Agreement with the Purchaser and
Fortune Way (collectively, the "Agreements"). Pursuant to the Share Purchase Agreement,
the Vendor agreed to dispose of and the Purchaser agreed to purchase the Sale Shares and the
consideration for such disposal is £0.66 million (approximately HK$7.26 million). Pursuant to
the Novation of Loan Agreement, the Vendor agreed to assign its right to receive repayment
of the Shareholder’s Loan to the Purchaser and the consideration for such assignment is £1.21
million (approximately HK$13.31 million). The Total Consideration for the Transaction is
£1.87 million (approximately HK$20.57 million) payable in cash by the Purchaser on
Completion. Upon Completion, the Company will cease to have any interest in Fortune Way.

The Transaction constitutes a discloseable transaction of the Company under Rule 14.06 of the
Listing Rules.


THE SHARE PURCHASE AGREEMENT

Date:

10 March 2009

Parties:

1.   Bowden Industries Limited, an indirectly wholly-owned subsidiary of GP Industries,
     being the Vendor

2.   Two individuals who are independent third parties of the Group, being the Purchaser
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The Directors confirm that, to the best of the Directors’ knowledge, information and belief
having made all reasonable enquiries, the Purchaser and his ultimate beneficial owner(s) are
third parties independent of the Company and connected persons (as defined in the Listing
Rules) of the Company.

Interest being disposed of

Pursuant to the Share Purchase Agreement, the Vendor agreed to dispose of, and the
Purchaser agreed to purchase the Sale Shares.

Consideration

The consideration for the disposal of the Sale Shares is £0.66 million (approximately
HK$7.26 million) payable in cash by the Purchaser on Completion.

Condition to the disposal of the Sale Shares

Completion of the disposal of the Sale Shares was conditional upon the execution of the
Novation of Loan Agreement.

NOVATION OF LOAN AGREEMENT

Date:

10 March 2009

Parties:

1.   The Vendor

2.   The Purchaser

3.   Fortune Way

Interest being disposed of

Pursuant to the Novation of Loan Agreement, the Vendor agreed to sell and assign and the
Purchaser agreed to purchase the Shareholder’s Loan.

Consideration

The consideration for the assignment of the Shareholder’s Loan is £1.21 million
(approximately HK$13.31 million) payable in cash by the Purchaser on Completion.

AGREEMENTS

Completion

Completion took place on 10 March 2009.


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Total Consideration

The Total Consideration for the Transaction is £1.87 million (approximately HK$20.57
million) payable in cash by the Purchaser on Completion.

The Total Consideration was determined after arm’s length negotiations between the parties
on normal commercial terms, having taken into account the market value of the property
held by Fortune Way, the repayment of the Shareholder’s Loan, and the net asset value of
Fortune Way.

Use of Proceeds and Financial Effect of the Transaction

The net proceeds from the Transaction after deducting all necessary charges for the
Transaction will be used by the Group as general working capital.

With reference to the management accounts of Fortune Way as at 28 February 2009, the
total assets of Fortune Way was approximately HK$9.0 million and the net liabilities of
Fortune Way was approximately HK$4.3 million. As a result of the Transaction, the Group
is expected to record an unaudited profit of approximately HK$11.6 million before
deduction of all necessary charges for the year ending 31 March 2009.

Reasons and benefits of the Transaction

The Board considers that the Transaction is a good opportunity for the Group to realize its
non-core assets and that the terms of the Agreements, which were negotiated on an arm’s
length basis, are fair and reasonable and in the interest of the Company and its shareholders
as a whole.

Information on Group, the Vendor and Fortune Way

The Company acts as an investment holding company. The activities of its principal
subsidiaries and associates are investment holding and manufacturing, marketing and
trading of batteries, electronics and components, acoustics products, cables, wire harness,
light fittings products and light emitting diode display screens.

The Vendor is a company incorporated in Hong Kong and an indirectly wholly-owned
subsidiary of GP Industries. GP Industries is a company incorporated in the Republic of
Singapore with limited liability and an approximately 69.3% owned subsidiary of the
Company, the shares of which are listed on the Singapore Stock Exchange.

Fortune Way is a company incorporated in the British Virgin Islands and a wholly-owned
subsidiary of the Vendor. The principal activity of Fortune Way is property investment. The
property held by Fortune Way is Flat 9 at Washington House, 20 Basil Street, London SW3
1AR, United Kingdom, and the estimated market value of this property is about £1.87
million (approximately HK$20.57 million). According to the latest financial statements of
Fortune Way, the net loss for the year ended 31 March 2007 and the net loss for the year
ended 31 March 2008 were approximately HK$0.9 million and HK$1.7 million respectively.
These financial statements were prepared in accordance with Hong Kong generally accepted
accounting principles.

After the Transaction, Fortune Way will cease to be a subsidiary of the Company.

                                             3
DEFINITIONS

In this announcement, the following expressions have the meanings set out below unless the
context otherwise requires:

"Board"                         the board of Directors of the Company

"Company"                       Gold Peak Industries (Holdings) Limited (Stock code: 40),
                                whose shares are listed on the Main Board of the Hong Kong
                                Stock Exchange

"Completion"                    completion of the sale and purchase of the Sale Shares and
                                the assignment of the Shareholder’s Loan, which took place
                                on 10 March 2009

"Directors"                     directors of the Company

"Fortune Way"                   Fortune Way Developments Limited, a company
                                incorporated in the British Virgin Islands with limited
                                liability, and a wholly-owned subsidiary of the Vendor

"GP Industries"                 GP Industries Limited, a company incorporated in the
                                Republic of Singapore with limited liability and an
                                approximately 69.3% owned subsidiary of the Company, the
                                shares of which are listed on the Singapore Stock Exchange

"Group"                         the Company and its subsidiaries

"Hong Kong"                     the Hong Kong Special Administrative Region of the PRC

"Hong Kong Stock                The Stock Exchange of Hong Kong Limited
Exchange"

"Listing Rules"                 the Rules Governing the Listing of Securities on the Stock
                                Exchange

"Novation of Loan               the deed of novation of loan agreement dated 10 March 2009
Agreement"                      between the Vendor, the Purchaser and Fortune Way in
                                connection with the novation and assignment of
                                Shareholders’ Loan

"PRC"                           the People's Republic of China

"Purchaser"                     two individuals who are independent third parties of the
                                Company

"Sale Shares"                   the entire issued share capital of Fortune Way




                                            4
"Shareholder’s Loan"               the outstanding amount owed and payable by Fortune Way to
                                   the Vendor, in the total amount of £1.21 million
                                   (approximately HK$13.31 million) prior to the Completion

"Share Purchase                    the agreement dated 10 March 2009 between the Vendor and
Agreement"                         the Purchaser in connection with the disposal of the Sale
                                   Shares

“Singapore Stock Exchange” the Singapore Exchange Securities Trading Limited

"Total Consideration"              the consideration for the Transaction

"Transaction"                      the disposal of the Sale Shares and assignment of the
                                   Shareholder’s Loan

"Vendor"                           Bowden Industries Limited, a company incorporated in Hong
                                   Kong with limited liability, and an indirectly wholly-owned
                                   subsidiary of GP Industries

"HK$"                              Hong Kong dollars, the lawful currency of Hong Kong

"£"                                Pound Sterling, the lawful currency of the United Kingdom

"%"                                per cent.


Note: The amounts in £ were converted into HK$ at the exchange rate of £1: HK$11.0 throughout this
announcement for indication purposes only.


                                                           By Order of the Board
                                                             WONG Man Kit
                                                            Company Secretary

Hong Kong, 10 March 2009,
www.goldpeak.com

As at the date of this announcement, the Board consists of Mr. Victor LO Chung Wing
(Chairman & Chief Executive), Mr. Andrew NG Sung On (Vice Chairman), Mr. Kevin LO
Chung Ping, Mr. Paul LO Chung Wai, Mr. LEUNG Pak Chuen, Mr. Richard KU Yuk Hing,
Mr. Andrew CHUANG Siu Leung and Mr. CHAU Kwok Wai as Executive Directors, Mr.
Raymond WONG Wai Kan and Mr. Vincent CHEUNG Ting Kau as Non-Executive
Directors and Mr. LUI Ming Wah, Mr. Frank CHAN Chi Chung and Mr. CHAN Kei Biu as
Independent Non-Executive Directors.




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