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Golden Meditech Proposes Open Offer to Eligible Shareholders to Subscribe One Offer Share for Every Two Shares Held
Date:11/19/2013

HONG KONG, Nov. 19, 2013 /PRNewswire/ -- Golden Meditech Holdings Limited ("Golden Meditech", together with its subsidiaries collectively as the "Group", 801.HK; 910801.TW), a leading integrated healthcare enterprise in China proposes a share issue to existing shareholders by way of an open offer on the basis of one offer share for every two shares held at the subscription price of HK$0.50 per offer share. Existing shareholders have the right to apply for excess shares that are not taken up and those shares will be allocated on pro rata basis of their shareholdings on the record date. 

The open offer is underwritten by the Company's three largest shareholders, Bio Garden, Jayhawk Capital and Hope Sky, and each of them respectively holds approximately 19.50%, 15.91% and 18.10% of the issued share capital of the Company as of today. Shareholdings of each of them will increase to 25.11%, 20.49% and 23.30% respectively if no other open offer shares are subscribed by the eligible shareholders. In return, each of the underwriters will be paid at 1.5% of the aggregate subscription price of the shares underwritten by them.   

Mr. Kam Yuen, Chairman and Chief Executive Officer of Golden Meditech said, "We are glad that the other substantial shareholders share the management's view on the prospect of healthcare industry in China and are willing to subscribe their entitlement and undertake those offer shares not taken up by existing shareholders. The open offer will allow the existing shareholders to subscribe shares at a discount to the market, and the net proceeds will strengthen the Company's financial position for any emerging opportunities." Mr. Kam continued, "The Mainland Chinese government is pursuing sustainable long-term economic growth and solid social welfare developmen
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SOURCE Golden Meditech Holdings Limited
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