Annex A
Press Announcement
RECENT 1 1
t
OFFICE OF THE COMMISSIONED
COMNODITIES TRACING
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CORP
BOND CORPORATION INTERNATIONAL LIMITED FOR SECURITIES AND
NOTIFIABLE TRANSACTION
...
The
The board of Bond Corporation International Limited ("BCIL") announces that it
has agreed to purchase from Sir Run Run Shaw and related trusts 99,837,068
shares in HK-TVB Limited ("HK-TVB"), representing 23.77 per cent. of the issued
share capital of HK-TVB for a price of HK$14 per share payable in cash.
total consideration is HK$1,397,718,952, which sum will be paid on completion
which is to take place within the next few days.
Following the acquisition by BCIL of this 23.77 per cent. interest in HK-TVB,
Mr. Alan Bond A.0. and another representative of BCIL will join the board of
directors of HK-TVB. Such appointments will be non-executive, and no changes in
the executive management of HK-TVB are contemplated.
The acquisition of the HK-TVB shares is being financed by way of a short term
bank loan, which it is intended will be refinanced by a rights issue made to the
shareholders of BCIL in the near future. It is anticipated that this will raise
approximately HK$1,000 million and will be by way of issue of new equity
capital. The rights issue will be underwritten as to 50 per cent. by Bond
Corporation Holdings Limited, the ultimate holding company of BCIL and as to 50
per cent. by Wardley Limited and Jardine Fleming (Securities) Limited. The
price of the rights issue will be determined at the time when full details of
the rights issue are announced.
Application has been made to The Stock Exchange of Hong Kong Limited for the
current suspension of trading in BCIL shares to be lifted with effect from 10
on Tuesday, 13th January, 1987.
a.n.
By Order of the Board
Wilson H. Banks, Jr.
Secretary
Hong Kong, 11th January, 1987
Page 210Page 211
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