Asset Acquisitions and Disposals::Increase of Shareholding in China Yuchai International Limited

Issuer & Securities

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

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
10-Jul-2014 18:07:31
Announcement Sub Title
Increase of Shareholding in China Yuchai International Limited
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 12 May 2014, 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$1.20 per share for the financial year ended 31 December 2013, 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 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 7 July 2014 been allotted 466,736 and 322,569 Dividend Shares respectively at US$20.1343 per CYI share based on the volume weighted average trading prices of CYI's shares on the New York Stock Exchange during the period from 18 June 2014 to and including 20 June 2014. The aggregate consideration for the Dividend Shares allotted to HLTS and WSIL was US$15,892,103.66.

Following the allotment of the Dividend Shares to HLTS and WSIL, the HLA group now holds in aggregate 14,032,736 ordinary shares and one special share of US$0.10 in CYI, representing approximately 36.739% of the enlarged issued and paid-up share capital of CYI comprising 38,195,706 ordinary shares and one special share as at 7 July 2014.

By Order of the Board

Ng Siew Ping, Jaslin
Company Secretary

10 July 2014