HKC (Holdings) shareholders approve Cerberus subscription

Mr. Eric Oei, Managing Director and Chief Executive Officer of HKC (HOLDINGS), comments, "We are pleased that shareholders voted in favour of Cerberus', Penta's and Creator's subscriptions. We expected that these subscriptions will be completed by end of October which will provide the company with additional funding of USD725 million through such subscriptions and a standby facility of USD500 million from Cerberus, altogether USD1.25 billion. In particular, we welcome Cerberus becoming our strategic shareholder. HKC (HOLDINGS) will become a key platform for Cerberus to tap the prosperous China market.