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[HK] Western Cement: Supplementary Announceable Discloseable Transaction to Acquire SCHWENK NAMIBIA

Time: January 9, 2020 23:02:18 Zhongcai
Original Title: Western Cement: Supplemental Announcement of Discloseable Transaction to Acquire SCHWENK NAMIBIA


Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for the contents of this announcement in whole or in part Liability for any loss arising from or in reliance on such content.




WEST
CHINA
CEMENT
LIMITED

China West Cement Co., Ltd.

(A company incorporated in Jersey with registration number
94796)

(Stock Code:
2233)

Supplemental announcement

Discloseable transaction

Acquisition
SCHWENK
NAMIBIA

Reference is made to the announcement of China West Cement Co., Ltd. (the “Company”) dated January 3, 2020 (the “Announcement”) in relation to the acquisition
Schwenk
Namibia. Unless otherwise stated, terms used in this announcement shall have the same meanings as those defined in the Announcement.


The Company wishes to provide its shareholders and potential investors with additional information regarding the transaction as follows:

related
SCHWENK
Further information on NAMIBIA

According to Schwenk
The audited book value of Namibia's total assets and total liabilities,
Schwenk
Namibia's net asset value as of December 31, 2018 was approximately 942,077,000 Namibian dollars (equivalent to approximately 66,604,844

USD).


related
SCHWENK
Further information on ZEMENT

As disclosed in the announcement, the sellers of the target shares and shareholder loans
Schwenk
Zement is a company incorporated under German law and is principally engaged in the production and supply of cement, special building materials, and concrete through its subsidiaries.

Earth, sand, and construction consulting services.



Schwenk
The ultimate beneficial owner of Zement is
Eduard
Schleicher and
Ursula
Hutter-Schleicher
(Each a German citizen), who collectively beneficially own Schwenk
Zement's entire interest. To the best of the Director's knowledge, information and belief after making all reasonable enquiries, before the transaction,
Schwenk
Zement and its ultimate beneficial owners

Is an independent third party.




1




In this announcement, unless otherwise stated, the amount of Namibian Dollars has been calculated at 1.00 Namibian Dollars
=
The exchange rate of USD 0.0707 is converted into USD for illustrative purposes only. It does not mean that any amount in Namibian dollars or US dollars has been or can be converted at the above exchange rate or other exchange rates, or cannot be converted at all.


By order of the board

China West Cement Co., Ltd.

Chairman

Zhang Jimin

Hong Kong, January 9, 2020

As at the date of this announcement, the executive directors are Mr. Zhang Jimin and Dr. Ma Weiping; the non-executive directors are Mr. Ma Chaoyang, Ms. Liu Ye and Mr. Fan Changhong; and the independent non-executive directors are Mr. Li Gangwei, Mr. Zhu Dong and Mr. Tan Jingzheng.




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