Imagination Holding Limited
Planetree (0613) coughs up ownership structure of borrower on 3rd attempt
Company announcement, 12-Oct-2022
5 listed companies currently in what we call the "Chung Nam Network" have indirect stakes in Freeman Opto Money Lending Corp Ltd, via a cross-holding pair of Marshall Islands vehicles. They include Carnival (0996), suspended since Mar-2020, which never previously identified its 2017 investment in FreeOpt Holdings Ltd, China Smarter Energy (1004), suspended since Apr-2021, and National Investments Fund (1227), delisted last month.
Company announcement, 12-Oct-2022
5 listed companies currently in what we call the "Chung Nam Network" have indirect stakes in Freeman Opto Money Lending Corp Ltd, via a cross-holding pair of Marshall Islands vehicles. They include Carnival (0996), suspended since Mar-2020, which never previously identified its 2017 investment in FreeOpt Holdings Ltd, China Smarter Energy (1004), suspended since Apr-2021, and National Investments Fund (1227), delisted last month.
Touyun Biotech (1332) subsidiary sells 90.1% of Genius Spring Ltd to Planetree (0613) for HK$40m
| Planetree announcement
Company announcement, 29-Oct-2021
The vendor is 61.01% owned by Touyun Biotech, 27.29% owned by Blue River (0498) and 11.71% by David Ki. The owner of the other 9.9% of Genius Spring is not disclosed, but our records show it was 9.9% owned by Imagination Holding Ltd as at 5-Dec-2016. This is another transaction in what we call the "Chung Nam Network".
Company announcement, 29-Oct-2021
The vendor is 61.01% owned by Touyun Biotech, 27.29% owned by Blue River (0498) and 11.71% by David Ki. The owner of the other 9.9% of Genius Spring is not disclosed, but our records show it was 9.9% owned by Imagination Holding Ltd as at 5-Dec-2016. This is another transaction in what we call the "Chung Nam Network".
Freeman (0279) results for 6 months to 30-Sep-2018
| Interim report
Company announcement, 29-Nov-2018
This reveals that in Apr-2018, Freeman acquired 36.17% of Imagination Holding Ltd for $144.5m. In the same month on 23-Apr, Imagi (0585) completed the sale of 50% for $150m to Bob May Inc. (owned by Ms Betty Long Wei), which owned the other half. It appears from the net assets of the associates that Freeman acquired its stake by subscribing 1.7m new shares of Imagination @$85. Next, in Jul-2018, Imagination distributed its 100% subsidiary Jocasta Ventures Ltd, to its shareholders. Jocasta has a money-lending partial subsidiary, Simagi Finance Co Ltd, which has been issuing shares to other members of what we call the "Chung Nam Network".
Company announcement, 29-Nov-2018
This reveals that in Apr-2018, Freeman acquired 36.17% of Imagination Holding Ltd for $144.5m. In the same month on 23-Apr, Imagi (0585) completed the sale of 50% for $150m to Bob May Inc. (owned by Ms Betty Long Wei), which owned the other half. It appears from the net assets of the associates that Freeman acquired its stake by subscribing 1.7m new shares of Imagination @$85. Next, in Jul-2018, Imagination distributed its 100% subsidiary Jocasta Ventures Ltd, to its shareholders. Jocasta has a money-lending partial subsidiary, Simagi Finance Co Ltd, which has been issuing shares to other members of what we call the "Chung Nam Network".
Imagi (0585) sells its half of a money-lender to JV partner
| Circular
Company announcement, 2-Feb-2018
The announcement fails to state who owns the purchaser, Bob May Incorporated (BVI), but the subsequent circular says it is Ms. Betty Long Wei, "a Hong Kong businesswoman active in the area of investment". The JV, Imagination Holding Ltd, owns Simagi Finance Co Ltd, a money lender. The circular also reveals that on 5-Dec-2016, the JV subscribed for "certain shares" of Genius Spring Ltd, which was 100%-owned by China Touyun Tech (1332), another company in what we call the "Chung Nam Network". The CTT 2016 accounts show that was a 9.9% stake in Genius Spring, subscribed for HK$21.39m. We note that Ms. Long was the owner of an LED company which had an aborted sale to CTT in 2015.
Company announcement, 2-Feb-2018
The announcement fails to state who owns the purchaser, Bob May Incorporated (BVI), but the subsequent circular says it is Ms. Betty Long Wei, "a Hong Kong businesswoman active in the area of investment". The JV, Imagination Holding Ltd, owns Simagi Finance Co Ltd, a money lender. The circular also reveals that on 5-Dec-2016, the JV subscribed for "certain shares" of Genius Spring Ltd, which was 100%-owned by China Touyun Tech (1332), another company in what we call the "Chung Nam Network". The CTT 2016 accounts show that was a 9.9% stake in Genius Spring, subscribed for HK$21.39m. We note that Ms. Long was the owner of an LED company which had an aborted sale to CTT in 2015.
Imagi (0585) sets up money-lending JV
Company announcement, 26-Feb-2016
The JV partner is a BVI company, the owner of which is not disclosed. Imagi is a cash shell. The JV will not be a subsidiary, so it will not be subject to the Listing Rules on connected transactions, so it can lend money to connected persons of Imagi. Imagi is part of what we call the "Chung Nam Network".
Company announcement, 26-Feb-2016
The JV partner is a BVI company, the owner of which is not disclosed. Imagi is a cash shell. The JV will not be a subsidiary, so it will not be subject to the Listing Rules on connected transactions, so it can lend money to connected persons of Imagi. Imagi is part of what we call the "Chung Nam Network".
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