HONG KONG--Freetech Road Recycling Technology (Holdings) Limited (“Freetech”, or the “Group;” stock code: HK.6888), a leading asphalt pavement maintenance (the “APM”) integrated solution provider, is pleased to announce that Mr. Sze Wai Pan (“Mr. Sze”), the controlling shareholder of the Group, has purchased a total number of 886,000 ordinary shares in the secondary market through Freetech (Cayman) Ltd. owned by himself. The purchase happened on 29 August 2016, 31 August 2016, 5 September 2016 and 8 September 2016, respectively, at an average price of HK$0.959 per share. In addition to being the controlling shareholder of the Group, Mr. Sze also serves as Chairman, CEO and Executive Director. After finishing the purchase mentioned before, Mr. Sze has increased his total interest in the Company to 525,851,260 ordinary shares of the Group, which represents approximately 48.74% of the total.
The share acquisition reflects Mr. Sze’s full confidence in the future prospects of the Group and the optimistic prospect of the road maintenance market in the People’s Republic of China.
About Freetech Road Recycling Technology (Holdings) Limited (Stock Code: HK.6888)
Freetech Road Recycling Technology is a leading integrated solution provider using the Hot-in-Place recycling technology in the asphalt pavement maintenance industry renowned for its Road Doctor brand. As of 30 June 2016, the Group owned 113 registered patents and had 15 pending patent applications in Hot-in-Place Recycling Technology and related equipment. The Group has also established 12 joint ventures and associates and appointed 12 franchisees across China including Hunan, Inner Mongolia, Jiangsu, Fujian, Xinjiang and Guangdong in order to expand its customer base across the country.