HONG KONG, July 2, 2015 - (ACN Newswire) - CT Environmental Group Limited ("CTEG" or the "Company;" stock code: 1363), a provider of one-stop centralized and customized wastewater treatment services, industrial water supply services and sludge treatment services in China, announced that the circular regarding its proposed share subdivision, which the announcement was published on 22 June 2015, will be dispatched to its shareholders on 3 July 2015.
According to the announcement dated 22 June 2015, the share subdivision is conditional upon the passing of an ordinary resolution by the shareholders at the extraordinary general meeting ("EGM"). The EGM for this proposal is to be held on 21 July 2015.
Upon the proposed share subdivision becoming effective, the par value of each share of the Company will decrease and the total number of shares of the Company in issue will increase. The share subdivision is expected to result in a corresponding downward adjustment to the trading price of the shares of the Company on the Hong Kong Stock Exchange. The Board of Directors believes that the share subdivision will enhance the liquidity in trading of the subdivided shares.
About CT Environmental Group Limited
Headquartered in Guangdong province, CTEG provides one-stop centralized and customized wastewater treatment and industrial water supply services. CTEG has historically focused on providing wastewater treatment and industrial water supply services to the textile industry and has subsequently extended wastewater treatment services to pulp and paper-making as well as the food and beverage industry, with future plans to expand into other industries. The Group currently operates treatment facilities in Guangdong and Hunan provinces, and is building a new facility in Sichuan province. These facilities have daily aggregate constructed capacities of 515,000 m3 for wastewater treatment and 210,000 m3 for industrial water supply. Projects under construction or in the pipeline have total designed daily capacities of 385,000 m3 for wastewater treatment and 100,000 m3 for industrial water supply. The Group is also engaged in the sludge treatment business. The sludge treatment facilities have commenced operations in the second half year of 2013, and have an daily aggregate capacity of 2,442 tonnes for sludge treatment. On 6 March 2014, CTEG was honored as a "Green Participant" in the "Hang Seng Pan Pearl River Delta Environmental Awards" jointly organized by Hong Kong Hang Seng Bank and Federation of Hong Kong Industries. Since May 30, 2014, CTEG has been included as a constituent of Morgan Stanley Capital International (MSCI) China Small Cap Index. Since 8 Sep 2014, CTEG has been included as a constituent of Hang Seng Global Composite Index (HSGCI), Hang Seng Infrastructure Index (HSII), and Hang Seng Composite Index(HSCI) series, including Hang Seng Composite Index, Hang Seng Composite Industry Index -Utilities as well as Hang Seng Composite SmallCap Index.
Source: CT Environmental Group Limited
Contact:
Strategic Financial Relations (China) Limited Ms. Karen Hung Tel: (852) 2864 4845 Email: karen.hung@sprg.com.hk Ms. Janice Au Tel: (852) 2864 4874 Email: janice.au@sprg.com.hk
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