announced jointly announced that as at 4:00 p.m. on 26 July 2010, being the first closing date, Shanghai Industrial has received valid acceptances in respect of (i) 764,164 shares under the share offer, representing approximately 0.03% of the issued share capital and voting rights of Neo-China; (ii) 47.53 million warrants under the warrant offer, representing approximately 72.02% of the total outstanding warrants; and 64.2 million share options under the option offer, representing approximately 51.1% of the total outstanding share options. No acceptance in respect of the CB offer has been received.
As at the first closing date, the total number of Neo-China shares in respect of which Shanghai Industrial has received valid acceptances under the share offer, together with the shares already owned or acquired by Shanghai Industrial and parties acting in concert with it before or during the offer period, does not result in Shanghai Industrial and parties acting in concert with it holding more than 50% of the voting rights of Neo-China. The offers have not become unconditional and have lapsed on 26 July 2010. As at 26 July 2010, Shanghai Industrial and parties acting in concert with it held 45.02% Neo-China.
Liu Yi, Niu Xiaorong, Yuan Kun, Liu Yan, Bao Jingtao, Lam Kwan-sing, Lai Leong, Nie Meisheng and Gao Ling tendered their resignations and resigned as directors (and in the case of Lai Leong, also as vice-chairman) of Neo-China, which took effect immediately after the first closing date.
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