TIDMCTI
RNS Number : 7812L
Cathay International Holdings Ld
31 December 2018
Cathay International Holdings Limited
("Cathay" or the "Company")
Investment by Lansen in Robustnique
Notification of class 2 transaction
Hong Kong, 31 December 2018 - Cathay International Holdings
Limited (LSE: CTI.L), an operator and investor in the growing
healthcare sector in the People's Republic of China (the "PRC"),
announces that its subsidiary, Lansen Pharmaceutical Holdings
Limited ("Lansen", incorporated in the Cayman Islands) (HKEX: 503),
the Company's 50.56% owned subsidiary, has announced today that its
indirect wholly owned subsidiary, Ningbo Lansen Medibeauty Tech
Limited ("Ningbo Lansen Medibeauty"), has entered into an Equity
Transfer Agreement (the "Agreement") for the purchase of a 20%
equity interest in Tianjin Robustnique Biotechnology Co., Limited
("Robustnique") ("Lansen's Investment") from one of the existing
shareholders, Shenzhen Webio Co., Limited ("Shenzhen Webio"), for a
cash consideration of RMB14 million (approximately USD2.0 million)
(the "Lansen Announcement") The full text of the Lansen
Announcement can be found at
http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/1231/LTN20181231401.pdf
and will also be made available at the Announcements & Notices
section of Lansen's homepage at
http://holding.lansen.com.cn//en/newslist.aspx?NodeCode=10002000700050005.
Information on Robustnique
Robustnique, established in January 2010, mainly engages in the
research and development and industrialization of new industrial
enzyme preparations, molecular biology tool enzymes, and bioactive
factors for cosmetics and biological skincare products.
Set out below is a summary of the audited financial results of
Robustnique for the two years ended 31 December 2016 and 31
December 2017, which were prepared in accordance with the PRC
generally accepted accounting principles:
Year ended 31 December
2017 2016
Equivalent Equivalent
RMB'000 USD'000 RMB'000 USD'000
Revenue 10,481 1,604 5,322 767
Profit before taxation 237 36 272 39
Gross assets 12,210 1,869 8,960 1,292
Net assets 2,103 322 1,867 269
Details of key individuals important to the business of
Robustnique
Dr. Zheng Chunyang is the Founder, Chairman of the Board and
General Manager of Robustnique.
Details of the transaction
The consideration of Lansen's Investment is RMB14 million
(approximately USD2.0 million), which shall be funded through the
existing internal resources of the Lansen group.
Ningbo Lansen Medibeauty has also entered into a Shareholders
Agreement with Robustnique and its existing shareholders, which
sets out the rights and responsibilities of Ningbo Lansen
Medibeauty and the rest of Robustnique's shareholders. Under the
Shareholders Agreement, Ningbo Lansen Medibeauty will have the
right to appoint one director to the board of directors in
Robustnique.
Effect of the transaction on Lansen group and benefits of the
transaction
One of Lansen's strategies is to explore opportunities through
business alliances or acquisitions to further develop its business
in the cosmeceutical industry. Robustnique is mainly involved in
the enzyme preparation business and cosmetic business, applying
advanced biological and enzymatic preparation technology to the
cosmetic field, which the Board believes will be synergistic to
Lansen.
As such, Lansen has engaged Robustnique to develop the San
Parietti series, Lansen's own skincare and cosmetic product
pipeline. The San Parietti series will be further developed,
establishing a solid foundation for Lansen's cosmeceutical
business.
The transaction constitutes a class 2 transaction for the
purpose of the Financial Conduct Authority's Listing Rules.
-Ends-
For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
Consilium Strategic Communications
Mary-Jane Elliott / Matthew Neal / Lindsey Neville Tel: +44 (0) 203 709 5702
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the healthcare sector in the People's Republic of China
(the "PRC"). The Company and its subsidiaries (collectively the
"Group") aim to leverage on investment opportunities in the growing
domestic demand for high quality healthcare products in the PRC and
build portfolio companies into market sector leaders with
competitive edge. Cathay has already demonstrated a track record of
identifying investment opportunities in this area including:
Lansen, a leading specialty pharmaceutical company focused on
rheumatology and dermatology in the PRC; Haizi, a company engaged
in the manufacture, marketing and sale of inositol and its
by-product, di-calcium phosphate; Natural Dailyhealth, a company
engaged in production and sales of plant extracts for use as key
active ingredients in healthcare products; and Botai, a company
engaged in collagen products.
The Group employs approximately 1,800 people across the PRC,
including over 20 specialist corporate and business development
staff based at the holding company's offices in Hong Kong and
Shenzhen. Cathay also has a hotel investment. For more information
please visit the Company's website: www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the main board of the Hong
Kong Stock Exchange, is a 50.56% owned subsidiary of Cathay. Lansen
is engaged in the manufacture, distribution and development of
specialty prescription drugs for treatment of autoimmune disorder
in rheumatology and dermatology. Lansen is in the leading market
position in disease modifying anti-rheumatic drugs ("DMARDs") for
treatment of rheumatoid arthritis ("RA") in the PRC. Lansen has
established an extensive distribution network, covering more than
1,000 hospitals in four municipalities, 25 provinces and cities in
the PRC. For more information please visit the Lansen's website:
www.lansen.com.cn/en/index.aspx.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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