Navigation Links
Golden Meditech Announces the Disposal of Convertible Note Issued by CCBC for over US$88 million
Date:8/25/2014

HONG KONG, Aug. 25, 2014 /PRNewswire/ -- Golden Meditech Holdings Limited (the "Company" or "Golden Meditech", 801.HK; 910801.TW), a leading integrated healthcare enterprise in China, announced that it has entered into an agreement to sell its 7% senior convertible note due 2017 in an aggregate principal amount of US$50 million issued on 3 October 2012 by China Cord Blood Corporation ("CCBC"), a non-wholly-owned subsidiary of the Company ("Convertible Note") to Magnum Opus International Holdings Limited ("Magnum") and Cordlife Group Limited ("CGL") for approximately US$88,090,000 (equivalent to approximately HK$682,697,500) in cash (the "Disposal"). Upon completion of the Disposal, each of Magnum and CGL will hold 50% of the Convertible Note.

Magnum is a private vehicle controlled by Mr. Kam Yuen, Chairman and Chief Executive Officer of the Company and Chairman of CCBC, and involves the CCBC management team. CGL is a cord blood banking services operator listed on the main board of the Singapore Exchange Securities Trading Limited, which currently owns approximately 10% of the issued shares of CCBC.

Following completion of the Disposal, Golden Meditech's shareholding in CCBC will remain unchanged at approximately 42.0% and will only be diluted to approximately 33.9% if both Magnum and CGL exercise their rights to convert their Convertible Note into CCBC shares and, accordingly, their respective shareholdings in CCBC would increase by approximately 9.7%.

With mainland China's healthcare sector continues to be driven by the government's healthcare reform, Golden Meditech believes the Disposal would strengthen its financial position and liquidity, enhancing its ability to fund its potential acquisitions or expansion of its existing healthcare related businesses in mainland China.

The transaction is subject to Golden Meditech and CGL obtaining all relevant approvals and consents, including but not limited to the approval of Golden Meditech's independent shareholders. An Extraordinary General Meeting ("EGM") will be convened to consider and approve the transaction and a circular containing details of the Disposal and a notice of EGM are expected be dispatched to the shareholders no later than 16 September 2014.

About Golden Meditech Holdings Limited

Golden Meditech Holdings Limited (www.goldenmeditech.com) is China's leading integrated-healthcare enterprise. Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets, including cord blood stem cells storage and hospital management, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.


'/>"/>
SOURCE Golden Meditech Holdings Limited
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Golden Meditech Holdings Limited Announces 2011/ 2012 Annual Results
2. Golden Seeds Invests In DxUpClose, Disruptive Technology That Performs An Antibiotic Sensitivity Test At The Patients Bedside In Less Than An Hour
3. Golden Meditech Holdings Limited Announces Updates on Medical Devices Subsidiary Latest Development
4. Golden Meditech Announces 2012 / 2013 Interim Results
5. Blue Belt Technologies Announces Golden Jubilee National Hospital Completes Initial NavioPFS Unicondylar Knee Replacement Surgery
6. Blue Belt Technologies annonce que le Golden Jubilee National Hospital a réalisé la première opération NavioPFS darthroplastie unicondylaire du genou
7. Will Brazil, Russia, India and China Ever Become the Golden Goose of the Future for Life Science and Medical Device Companies?
8. Golden Meditech Proposes Open Offer to Eligible Shareholders to Subscribe One Offer Share for Every Two Shares Held
9. Liaison Healthcare Honored with Golden Bridge Business Innovation Awards
10. Golden Meditech Announces 2013 / 2014 Interim Results
11. The MED Group Announces Agreement with Golden Technologies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... , May 26, 2016 A ... growth is the emergence of new treatments. Cardax, a ... for osteoarthritis treatment. The therapy is expected to fulfil ... Research UK is conducting studies to develop new treatments ... where the genes involved in osteoarthritis are being investigated, ...
(Date:5/26/2016)... 2016 Since its commercial introduction ... essential life science tool for conducting genetic studies in ... reveals in its new report that the industry sits ... powered by a range of new applications in the ... http://photos.prnewswire.com/prnh/20140723/694805 ) , Since the ...
(Date:5/25/2016)... und GERMANTOWN, Maryland , May ... mit Therawis bedient dringenden ... QIAGEN N.V. (NASDAQ: QGEN ... eine Lizenz- und Entwicklungsvereinbarung mit Therawis Diagnostics GmbH ... Onkologie eingegangen zu sein. Ein erstes Projekt wird ...
Breaking Medicine Technology:
(Date:5/31/2016)... (PRWEB) , ... May 31, 2016 , ... The ... industry, today released ten predictions on the future of wellness, travel, spa and beauty ... top travel, spa and beauty companies to leading economists and researchers - to forecast ...
(Date:5/31/2016)... ... ... The Orthopaedic Research and Education Foundation (OREF) is pleased to announce the following ... term as president in March, succeeding John J. Callaghan, MD, who remains on the ... Kyle, MD, will serve as chair, corporate development, succeeding Thomas P. Schmalzried, MD, in ...
(Date:5/31/2016)... ... ... a recent interview on The Greenburgh Report radio show hosted by Greenburgh, NY Town ... leading medical insurance advocate Adria Goldman Gross discussed several eye-opening issues that have combined ... the interview with Mr. Feiner that aired on May 7, 2016, Ms. Gross, the ...
(Date:5/31/2016)... ... May 31, 2016 , ... To meet a ... the healthcare industry, The University of Scranton is adding a Certificate in Health ... a career in rapidly growing field of healthcare information. , Healthcare organizations ...
(Date:5/30/2016)... ... May 30, 2016 , ... "This plugin ... said Christina Austin - CEO of Pixel Film Studios. , TransPack Volume ... Pro X. Choose from abstract transitions to more simple wipes with blur & ...
Breaking Medicine News(10 mins):