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| Tuesday, 5 April 2016, 21:00 HKT/SGT | |
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HONG KONG, Apr 5, 2016 - (ACN Newswire) - Orient Victory China Holdings Limited ("Orient Victory China" or the "Company", stock code: 265.HK), a subsidiary of Orient Victory Estate Group, which is a leading real estate company in China, today announced that it proposes to make the Bonus Warrants Issue to the Shareholders on the basis of 1 Bonus Warrant for every 7 Shares held.
The Bonus Warrants will be issued in registered form. Each Bonus Warrant will entitle its holder to subscribe in cash for 1 New Share at an initial Subscription Price of HK$0.195, subject to adjustment, upon exercise of the Bonus Warrants. Based on 10,979,337,380 Shares in issue as at present and assuming that no further Shares will be issued or repurchased until the Record Date, the total number of the Bonus Warrants to be issued will be 1,568,476,768 Bonus Warrants, entitling the holders thereof to subscribe for 1,568,476,768 New Shares representing approximately 14.29% of the issued share capital of the Company and approximately 12.50% of the issued share capital of the Company, as enlarged by the New Shares to be issued upon the exercise of all the Bonus Warrants.
The Bonus Warrants will be exercisable at any time from the date of issue (which is expected to be Wednesday, 4 May 2016) to the last day of the 12 months thereafter (both days inclusive). The Bonus Warrants will be listed for trading on the Stock Exchange and the proposed board lot for trading in the Bonus Warrants is 10,000, which is the same as the board lot for trading in the Shares.
Mr. Shi Baodong, Chairman of Orient Victory China said, "In recognition of the continuous support of the Shareholders, the Company proposes the Bonus Warrants Issue to allow them to participate in the future growth and development of the Company. Besides our travel business and jewellery business, we are exploring other potential business opportunity in financial services related business and will focus on developing travel and related business. With better quality services to customers and growth potentials from new markets, we believe the Company will create maximize value to its shareholders."
Topic: Issue of Stocks/Bonds
Sectors: Daily Finance, Real Estate & REIT, Daily News
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From the Asia Corporate News Network
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