Elemet Limited
Planetree (0613) lends HK$85m to Osman Bin Kitchell and $90m to Kenneth Chan Chak Kai
Company announcement, 1-Mar-2022
The lender, Maxlord Enterprises, is 33.33% owned by Blue River (0498) and 66.67% by Planetree, which is 67.22% owned by Karen Lo Ki Yan. On 30-Dec-2021, Mr Kitchell bought 28.53% of Blue River from Oshidori (0622) for HK$160m. He is Chairman of Imagi (0585), which is 21.31% owned by Oshidori. On 17-Feb-2022, Oshidori invested HK$750m in 17.81% of Future Capital Group Ltd, which until then was 100% owned by Ms Lo. Blue River owns 48.23% of Paul Y. Engineering Group Ltd, of which Mr Chan owns 51.76%, including 10% held via Elemet Ltd, as at 4-Nov-2021. Blue River in Dec-2021 terminated a proposed purchase of his total stake in PYE after the Stock Exchange classified it as a Reverse Takeover.
Company announcement, 1-Mar-2022
The lender, Maxlord Enterprises, is 33.33% owned by Blue River (0498) and 66.67% by Planetree, which is 67.22% owned by Karen Lo Ki Yan. On 30-Dec-2021, Mr Kitchell bought 28.53% of Blue River from Oshidori (0622) for HK$160m. He is Chairman of Imagi (0585), which is 21.31% owned by Oshidori. On 17-Feb-2022, Oshidori invested HK$750m in 17.81% of Future Capital Group Ltd, which until then was 100% owned by Ms Lo. Blue River owns 48.23% of Paul Y. Engineering Group Ltd, of which Mr Chan owns 51.76%, including 10% held via Elemet Ltd, as at 4-Nov-2021. Blue River in Dec-2021 terminated a proposed purchase of his total stake in PYE after the Stock Exchange classified it as a Reverse Takeover.
Blue River (0498) proposes to buy 51.76% of Paul Y. Engineering Group Ltd from Kenneth Chan Chak Kai for HK$675m
Company announcement, 4-Nov-2021
The voting rights over a 10% stake had on 1-Jun-2021 been assigned by Mr Chan to Blue River, which already owns 48.23% of PYE. 14 days before that, South Shore (0577) lost control of the 51.76% stake when the stake's holding company was sold by a lender to an unnamed third party for HK$150m. On 29-Jul-2021 Mr Chan agreed to sell the entire stake to Blue River, but the Stock Exchange regards this as a Reverse Takeover of PYE, a decision which will be appealed to the Listing Committee.
Company announcement, 4-Nov-2021
The voting rights over a 10% stake had on 1-Jun-2021 been assigned by Mr Chan to Blue River, which already owns 48.23% of PYE. 14 days before that, South Shore (0577) lost control of the 51.76% stake when the stake's holding company was sold by a lender to an unnamed third party for HK$150m. On 29-Jul-2021 Mr Chan agreed to sell the entire stake to Blue River, but the Stock Exchange regards this as a Reverse Takeover of PYE, a decision which will be appealed to the Listing Committee.
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy