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 any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)
(Stock Code: 8172) DELAY IN DESPATCH OF CIRCULAR IN RELATION TO THE SUBSCRIPTION AND THE WHITEWASH WAIVERReference is made to the announcement of China Star Cultural Media Group Limited (the "Company") dated 18 December 2014 (the "Announcement") in relation to, among other things, the Subscription and the Whitewash Waiver. Capitalised terms used herein shall have the same meanings as defined in the Announcement unless the context requires otherwise.
As stated in the Announcement, a circular (the "Circular") containing, among other things, information on the Subscription and the Whitewash Waiver, the recommendation of the Independent Board Committee and the letter of advice from the independent financial adviser advising on the Subscription and the Whitewash Waiver, and a notice of SGM, was expected to be despatched to the Shareholders on or before 8 January 2015.
As additional time is required for the Company's preparation and finalisation of certain information in the Circular, including financial information of the Group and information relating to the directors of the Company to be nominated by the Subscribers, and by the independent financial adviser to finalise its letter of advice, the Company does not expect the Circular to be despatched to the Shareholders by 8 January 2015.
* For identification only
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An application has been made by the Company to the Executive for consent to the extension of time for the despatch of the Circular to a date falling on or before 29 January 2015 and the Executive has indicated that it is minded to grant consent.
By order of the Board
China Star Cultural Media Group Limited Leung Wai ManExecutive Director
Hong Kong, 8 January 2015
As at the date of this announcement, the executive directors of the Company are Mr. Leung Wai Man and Ms. Li Yee Mei; and the independent non-executive directors are Mr. Yip Tai Him, Mr. Law Yiu Sang, Jacky and Mr. Fung Wai Ching.
This announcement, for which the directors of the Company (the "Directors") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market (the "GEM") of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will be published on the GEM website on the "Latest Company Announcement" page for at least 7 days from the date of publication and on the Company's website at www. chinastarcmg.com.hk.
The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statement in this announcement misleading.
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