HONG KONG, March 3, 2023 /PRNewswire/ -- Xingda International Holdings Limited ("Xingda" or the "Company") (Stock Code: 1899.HK), one of the leading global manufacturers of radial tire cords, has recently made an announcement in relation to the partial offer made by the Joint Offerors on 28 February 2023.

The Partial Offer will lapse unless it is approved by Qualifying Shareholders who are registered as Shareholders in the register of members of the Company holding over 50% of the Shares not held by the Joint Offerors, the Joint Offerors' Shareholders and parties acting in concert with either of them at or before 4:00 p.m. (Hong Kong time) on 10 March 2023 (i.e. the Final Closing Date for the Partial Offer). 

The Company and the Joint Offerors note that not all licensed securities dealer, registered institution in securities, custodian bank or other CCASS participants may have obtained complete instructions from beneficial owners holding Shares through them on all the options available to Qualifying Shareholders in relation to the action that can be taken for the Partial Offer. In other words, in addition to providing an instruction to accept the Partial Offer and specifying the number of shares to be accepted ("Acceptance Instruction"), the investors may also provide an instruction to approve the Partial Offer and specify the number of shares in respect of which such approval is signified ("Approval Instruction").

Any CCASS participants who may not have taken complete instructions from any Investors holding Shares through them in relation to both the "Acceptance Instruction" and the "Approval Instruction" of the Partial Offer should immediately contact the relevant Investors to take complete instructions and rectify their instructions to the HKSCC accordingly.

Investors holding Shares through licensed securities dealer, registered institution in securities, custodian bank or other CCASS participants are reminded to give instructions in relation to both "Acceptance Instruction" and "Approval Instruction" of the Partial Offer to their nominee for onward transmission to the HKSCC. Investors who have not given complete instructions in relation to approval and/or acceptance of the Partial Offer are encouraged to contact their licensed securities dealer/registered institution in securities/custodian bank immediately to rectify their instructions.

Additionally, Qualifying Shareholders who have already submitted the Form of Approval and Acceptance but realise that not all the sections in relation to approval and acceptance of the Partial Offer have been completed and wish to approve and/or accept the Partial Offer are encouraged to contact the Registrar for rectification of the Form of Approval and Acceptance to validate the intended approval and/or acceptance of the Partial Offer, the details of which have been set out in the joint announcement made by the Joint Offerors and the Company on 28 February 2023.

Investors holding Shares through licensed securities dealer, registered institution in securities, custodian bank and/or other CCASS participants are reminded to allow more time before the Final Closing Date for their nominee to collate and give instructions in relation to the approval and acceptance of the Partial Offer on their behalves to the HKSCC in accordance with the procedures required by the HKSCC. Investors are therefore encouraged to provide the necessary instructions in relation to the approval and acceptance of the Partial Offer to their nominees as soon as possible.

Investors are reminded to consult their licensed securities dealer, registered institution in securities or custodian bank immediately to ascertain the exact timing and procedures for them to receive and process their instructions in relation to the approval and acceptance of the Partial Offer.

The Joint Offerors have appointed Orient Capital Pty Limited as its proxy agent. Qualifying Shareholders and Investors who have any enquiry of administrative and procedural nature regarding the approval and acceptance of the Partial Offer may reach out via the following ways by quoting the Partial Offer:

By phone: +852 3953 7250, Working hours: Monday to Friday, 9:00 a.m. to 6:00 p.m. (Hong Kong time)

By email: partialoffer@xingda.com.cn

For the avoidance of doubt, the designated phone lines or email account will not (i) provide any information not available in the public domain nor any advice on the merits or risks of the Partial Offer; or (ii) give any financial or legal advice. If you are in doubt as to any aspect of the Composite Document or action to be taken, you should consult a licensed securities dealer or registered institution in securities, a bank manager, solicitor, professional accountant or other professional adviser.