Increase of Shareholding by a Controlling Shareholder of Freetech Road Recycling Technology

HONG KONG, Sep 02, 2014 - (ACN Newswire) - Freetech Road Recycling Technology (Holdings) Limited ("Freetech", or the "Group;" stock code: 6888), a leading service provider in the asphalt pavement maintenance ("APM") industry using "Hot-in-Place" recycling technology, today announced the increase of the shareholding of Freetech (Cayman) Ltd., a company beneficially owned by Mr. Sze Wai Pan ("Mr. Sze"), the controlling shareholder, the Chairman, the Chief Executive Officer and an Executive Director of the Group.

Freetech (Cayman) Ltd. has acquired in total an additional 3,000,000 ordinary shares of the Group on the secondary market at an average consideration per share of HK$1.6482 on 1 September 2014 and 2 September 2014. After the acquisition, Mr. Sze together with his beneficial owned companies including Freetech Technology Limited, Freetech (BVI) Limited and Freetech (Cayman) Ltd., have increased their total interest in the Group to 524,365,260 ordinary shares of the Group, representing approximately 48.60% of the issued share capital of the Group.

Supported by the Group's strong R&D capabilities and state-of-the-art "Hot-in-Place" recycling technology, Freetech has strengthened its market position as a leading APM service provider and APM equipment producer in the PRC. Looking ahead, the Group intends to build on its competitive advantages to benefit from the current favourable government policies and aims to continuously strengthen its market position and increase its market share through well-planned strategies.

Contact:

Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 / 9471 2009  Email: vicky.lee@sprg.com.hk 
Karen Tang  Tel: (852) 2114 4951 / 9485 6393  Email: karen.tang@sprg.com.hk 
Stephanie Liu  Tel: (852) 2864 4852 / 9616 6167 Email: stephanie.liu@sprg.com.hk
Fax: (852) 2527 1196

Source: Freetech Road Recycling Technology (Holdings) Ltd
Sectors: Daily Finance, Daily News