Ping An Group may become the Group's second major shareholder
The Group conditionally agreed to grant the call option to Ping An
Trust Co. pursuant to which it shall have the right to subscribe for up to
3,393,583,143 new shares, representing approximately 19.99% of the existing
issued share capital of the Group in a twenty months call option period.
The option shares will be issued at the exercise price which is HK$0.12 per
option share or the average closing price of the five consecutive trading
days immediately preceding the exercising of the call option, whichever is
the lower. The fixed exercise price of HK$0.12 per option share represents:
(i) a discount of 20% to the closing price of HK$0.15 per share as quoted
on the Stock Exchange on 28 March 2008, being the last trading day
prior to the date of the call option agreement; and
(ii) a discount of approximately 16.67% to the average closing price of
HK$0.144 per share as quoted on the Stock Exchange over the last
five consecutive trading days up to and including 28 March 2008.
The 3,393,583,143 option shares represent approximately 19.99% of the existing issued share capital of the Group and approximately 16.67% of the issued share capital of the Group as enlarged by the issue and allotment of the option shares.
Adjustments and anti-dilution mechanism
During the call option period, the Group shall entitle the sharehol
|SOURCE Town Health International Holdings Co. Ltd.|
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