Singapore, Singapore –May 7,
2019 - China Yuchai International Limited (NYSE: CYD)(“China Yuchai” or the “Company”) announced today the sale by its
indirect subsidiary Venture Delta Limited (“VDL”) of 4,782,764 of VDL’s
10,122,667 voting shares held in Thakral Corporation Ltd (“Thakral”).
Pursuant to the voluntary conditional cash partial offer (the
"Partial Offer") made on March 4, 2019 by W Capital Markets Pte. Ltd.
for and on behalf of Prime Trade Enterprises Limited (the "Offeror"),
to acquire 26,510,000 ordinary shares in the issued and paid-up share capital
of Thakral (the “Offer Shares”), VDL tendered an aggregate of 4,782,764 shares
in Thakral to the Offeror, comprising:
VDL’s acceptance of the Partial Offer of 28.9
per cent of VDL’s shares in Thakral (comprising 2,925,450 shares) (“Relevant
Percentage Offer Shares”); and
the shares tendered by VDL in excess to the
Relevant Percentage Offer Shares and accepted by Offeror under the Partial
Offer (comprising 1,857,314 shares) (“Excess Shares”),
Percentage Offer Shares and Excess Shares collectively referred to as “VDL
Total Tendered Shares”).
The cash consideration of S$0.50 per share under
the Partial Offer amounts to a total consideration of S$2,391,382 for the 4,782,764
VDL Total Tendered Shares. The transfer of the VDL Total Tendered Shares to the
Offeror was completed on April 30, 2019. VDL has consequently ceased to be a
substantial shareholder of Thakral, with VDL’s direct interest in Thakral
reducing from 7.74% before the transaction to 4.08% after the transaction.