Asset Acquisitions and Disposals::Increase of Shareholding in China Yuchai International Limited ("CYI")

Issuer & Securities

Issuer/ Manager
HONG LEONG ASIA LTD. - SG1F76860344 - H22
Stapled Security

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
16-Jul-2015 17:36:15
Announcement Sub Title
Increase of Shareholding in China Yuchai International Limited ("CYI")
Announcement Reference
Submitted By (Co./ Ind. Name)
Ng Siew Ping, Jaslin
Company Secretary
Description (Please provide a detailed description of the event in the box below)
On 22 May 2015, Hong Leong Asia Ltd. ("HLA" or the "Company") had announced that its subsidiary, China Yuchai International Limited ("CYI"), a company listed on the New York Stock Exchange, had declared a dividend of US$1.10 per share for the financial year ended 31 December 2014, and that the said dividend would be made either wholly in cash or in new shares in CYI at the option of its shareholders ("CYI Dividend").

In connection with the CYI Dividend, the Board of Directors of the Company wishes to announce that its wholly-owned subsidiaries, HL Technology Systems Pte Ltd ("HLTS") and Well Summit Investments Limited ("WSIL"), both shareholders of CYI, had elected to receive the CYI Dividend payable to them in the form of ordinary shares of US$0.10 each of CYI ("Dividend Shares") in lieu of cash. Accordingly, HLTS and WSIL had on 14 July 2015 been allotted 540,765 and 380,589 Dividend Shares respectively which numbers were determined based on the volume weighted average trading price of CYI's shares on the New York Stock Exchange during the period from 29 June 2015 to and including 1 July 2015 at US$16.8792 per CYI share. The aggregate consideration for the Dividend Shares allotted to HLTS and WSIL was US$15,551,718.44.

Following the allotment of the Dividend Shares to HLTS and WSIL, the HLA group now holds in aggregate 15,059,315 ordinary shares and one special share of US$0.10 in CYI, representing approximately 38.32% of the enlarged issued and paid-up share capital of CYI comprising 39,298,340 ordinary shares and one special share as at 14 July 2015.

By Order of the Board

Ng Siew Ping, Jaslin
Company Secretary

16 July 2015