Hong Kong-based Chiho-Tiande has emerged as a multinational, large-volume scrap recycler thanks to its acquisition of Scholz AG’s European assets.
Hong Kong-based Chiho-Tiande has emerged as a multinational, large-volume scrap recycler thanks to its acquisition of Scholz AG’s European assets.
[09 November 2016, Hong Kong] Chiho-Tiande (00976) announces that, referring to its proposed acquisition of the entire share capital in Scholz Holding GmbH, the Company has obtained the merger control clearance from the Council of Competition of Bosnia and Herzegovina and all relevant merger control clearances for the proposed acquisition have been obtained from the relevant regulatory authorities.
[25 October 2016, Hong Kong] Chiho-Tiande (00976.HK) announces that with effect from 24 October 2016, Mr. Zhang Jun resigned as CEO and Executive Director and ceased to be a member of the Executive Committee and Strategy and Investment Committee of the Company; Ms. Zhang Jingdong resigned as an Independent Non-executvie Director and ceased to be a member of the Audit Committee, the Nomination Committee and the Remuneration Committee of the company. Mr. Zhang resigned due to his desire to devote more time on his personal endeavors and Ms. Zhang resigned as she will retire. Each of them has confirmed that he/she has no disagreement with the Board and there are no matters with regard to his/her resignation which need to be brought to the attention of the shareholders of the Company or the Stock Exchange.
[06 September 2016, Hong Kong] – Chiho-Tiande Group Ltd. (“Chiho-Tiande” or “CTG”) (HKEx stock code: 00976), the leading mixed metal scrap recycler and importer in China and the largest buyer of electro scrap motors from Europe, today announced the introduction of the envisaged new management team for Scholz Recycling GmbH (“Scholz Recycling”), the new operational ultimate holding company of Scholz Group. After reaching several major milestones recently, CTG is now making good progress towards the objective of becoming the sole shareholder of Scholz Group.
Chiho-Tiande Group Limited (“Chiho-Tiande” or the “Group”) (Stock code: 976), a global leading mixed metal scrap recycler, is pleased to announce the completion of the acquisition of the rights and obligations under certain loan agreements and promissory notes of Scholz Holding GmbH (“Scholz Holding”), one of the biggest metal scrap recyclers in the world. The closing of the Debt Acquisition took place on 22 July 2016 (after trading hours), at the initial purchase price of EUR236 million (equivalent to approximately HK$2.1 billion) and part of the Closing Conditions Settlement Amount of approximately EUR4 million (equivalent to approximately HK$35.6 million). Through the Debt Acquisition, the Group become the largest debtholder of Scholz Holding, and will embark on a series of steps to prepare for the Potential Equity Acquisition in the near future.
Since the minimum public float requirement under Rule 8.08(1)(a) of the Listing Rules is not satisfied, earlier on 15, February, 2016, the Company has made an application to the Stock Exchange for a temporary waiver from strict compliance with Rule 8.08(1)(a) of the Listing Rules for a period of three months which was granted by the Stock Exchange for a period from 15 February 2016 to 14 May 2016. The Company applied again later and the Stock Exchange granted an extension of the Waiver until 14 August 2016. The Company was informed yesterday that Good Union Hong Kong Investment Limited transferred a certain amount of shares to an independent third party. This independent third party and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. After completion of this share transfer, the public float of the Company has been restored to at least 25% of the issued share capital of the Company in compliance with Rule 8.08(1)(a) of the Listing Rules.
(Hong Kong, 28 June 2016) – Chiho-Tiande Group Limited (“Chiho-Tiande” or the “Group”) (Stock code: 976), a global leading mixed metal scrap recycler, has today announced that the Sellers (certain lenders comprising financial institutions, international debt providers and funds)which have granted certain loans and promissory notes (“Debt”) to Scholz Holding GmbH (“Scholz”), one of the biggest metal scrap recyclers in the world, have accepted the Binding Offer under a Debt Purchase Agreement at the initial purchase price of EUR236 million (equivalent to approximately HK$2.1 billion).The Debt Purchase Agreement has become effective after trading hours on 28 June 2016.
We are proud to announce that Chiho-Tiande (HK) Ltd has successfully obtained ISO 14001 accreditation for its environmental management system. ISO 14001 is the internationally recognized standard for environmental management. It provides a framework for organizations to identify and control their environmental impact and constantly improve their environmental performance in response to changing external and internal factors. Our registration is granted by third party assessors under the guidelines administered by ISO. Achieving ISO 14001 certification illustrates our ongoing commitment to adopting industry best practices to improve environmental performance.
In the morning of July 16th 2014, a delegation led by Liang Liming, Vice Governor of Zhejiang Province, accompanied by Taizhou Deputy Party Secretary & Mayor Zhang Bing, Deputy Mayor Zhao Yuejin, District Deputy Party Secretary & Head Xu Renbiao, District Deputy Heads Liang Miaofu and Li Zhenjie, visited the new base project construction of Taizhou Chiho-Tiande Metals Company Limited, a subsidiary of Chiho-Tiande Group Limited. Liang stated that, the development of metals recycling is beneficial for both the nation and the people; meanwhile, she put forward three requirements for Chiho-Tiande: First, give great importance to the investment in environmental protection, and enhance the investment in equipment & facilities; Second, increase patterns of economic development; Third, change modes of production & business operation.
（Infocast News）Chiho-Tiande Group (00976) has entered into an investment agreement with the Yantai Economic and Technological Development Zone Adminstration Committee for developing and operating an integrated processing facility for recycling, processing and sales of imported mixed metal scrap in the Yantai Resource Recycling and Processing Demonstration Zone in Yantai City,Shangdong Province.The project is expected to have an annual processing capacity of 500,000 tonnes.