Spin off of construction and engineering contracting business
8 January 2015
By means of Deson Construction International Holdings Limited (“DCIHL”), the Group has restructured its construction and engineering contracting business, on 8 January 2015, 400,000,000 shares of DCIHL were successfully listed on the GEM of the Stock Exchange, with Stock Code: 8268, with board lots of 8,000 shares each.
DCIHL has issued 400,000,000 shares, among others, an aggregate of 110,642,053 Shares will be satisfied by way of distribution in specie to the Deson Development International Holdings Limited (“DDIHL”) Qualifying Shareholders in proportion of one Share of DCIHL for every five shares of DDIHL; and 50,000,000 Shares were placed to not less than 6 placees with the placing price HK$0.385 per share. The Group will continue to hold 51.18% shares interest of DCIHL after the completion of Spin-off.