Hong Kong, Oct. 30, 2017 /PRNewswire/ -- Golden Meditech Holdings Limited (SEHK stock code: 00801, TWSE stock code: 910801)("Golden Meditech" or the "Company", together with its subsidiaries, the "Group"), a leading integrated healthcare enterprise in China, today announces that the board of directors of the Company resolved to initiate an
In view of the Group's future business directions, the Company intends to submit the application of the Voluntary Delisting to TWSE in or about November 2017. If the application is approved by TWSE, the TDR shall cease to be listed on TWSE with effect from a date to be determined by TWSE. The Company intends to issue an announcement after obtaining TWSE's approval.
According to the applicable TWSE's regulations, the repurchase price of each TDR is fixed at NT$4.45 (approximately HK$1.15). In addition, in order to encourage the TDR holders to convert TDR into ordinary shares of the Company, the Company will bear the conversion expense of one TDR at the minimum of NT$2,500 (approximately HK$647) per TDR holder.
To date, there were 65,638,518 TDR in issue, representing 65,638,518 shares of the Company. Assuming that all the TDR holders elect to convert their TDR into shares, the maximum conversion expense will be in the aggregate of approximately NT$8.9 million (approximately HK$2.3 million). Assuming that the application of the Voluntary Delisting is approved by TWSE and all outstanding TDR are required to be repurchased by the Company, the total consideration for the repurchase will be approximately NT$292,091,405 (approximately HK$75,573,455). Consequently, Mr. Kam Yuen, the Company's controlling shareholder, and his concert parties would hold an aggregate of 2,087,043,560 shares, representing approximately 71.95% of the issued share capital of the Company. The Company intends to finance both the repurchase of TDR and the conversion expenses mentioned above by internal financial resources.
Details of the Voluntary Delisting proposal have been published by the Company in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and posted on the Company's website as follows: http://www.goldenmeditech.com/eng/ir/announcements.php?year=2017
About Golden Meditech Holdings Limited (SEHK stock code: 00801, TWSE stock code: 910801)
Golden Meditech (www.goldenmeditech.com) is a leading integrated-healthcare enterprise in China. It is a first-mover in China, having established its dominant positions in several markets including the medical devices market, the cord blood storage market and the hospital management market in the healthcare industry, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, Golden Meditech will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.
View original content:http://www.prnewswire.com/news-releases/golden-meditech-announces-the-proposed-voluntary-delisting-of-tdr-on-twse-300545384.html
SOURCE Golden Meditech Holdings Limited
Subscribe to our Free Newsletters!
Abortion pills are used in the first trimester to terminate pregnancy. Women should be aware of ...
Tea tree oil is an essential oil derived from the leaves of the Melaleuca alternifolia plant and ...
Fallopian tube cancer is a form of gynecologic cancer arising in the fallopian tubes, which are ...View All