announces that the two private-equity investors, China Singapore Suzhou Industrial Park Ventures Co. Ltd. (CSVC) and Infinity I-China Investments (Israel), L.P. (Infinity Investments), have agreed to make a total capital investment of up to RMB500 million into Digital China Information Technology Service Co. Ltd. (DCITS), a company currently wholly owned by Digital China, assuming a subscription option (an option to make further capital investment in an aggregate amount of RMB100 million in DCITS granted to the two investors) is exercised, for investment in Digital China's ITS (information technology services) business.
The percentage of equity interest in DCITS of each of Digital China, CSVC and Infinity Investments immediately following the exercise of the Subscription Option are 76.75%, 18.60% and 4.65% respectively.
DCITS is principally engaged in the ITS business, including the provision of systems integration services, application software development, maintenance and outsourcing, consultancy and training services to government, telecom and the finance sectors. The capital contributed by Digital China and the two investors shall be used by DCITS as working capital for business operation and research and development of the ITS business.
In relation to the management of the business of DCITS after the investment, the investors and Digital China have also entered into a cooperative joint-venture contract, pursuant to which Digital China has granted the investors a put option to transfer their equity interests in DCITS to Digital China at the respective exercise price as agreed by the parties upon the happening of certain triggering events.
In relation to the stock quote service (the "Quote Service") information, the stock price, trade volume and turnover are provided by The Stock Exchange of Hong Kong Limited ("SEHK") and/or HKEx Information Services Limited ("Exchange-supplied information"), whilst modifications to and adaptations of the foregoing are made by Quam (H.K.) Limited ("Quam-supplied information"). For the Exchange-supplied information, you may refer to SEHK's website at http://www.hkex.com.hk/ and for Quam-supplied information, you may refer to http://www.quamnet.com/. There may be a delay between the Quote Service information and the Exchange-supplied information or the Quam-supplied information.
SEHK and Quam (H.K.) Limited endeavour to ensure the accuracy and reliability of the Exchange-supplied information and the Quam-supplied information respectively but do not guarantee their accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.
The above information is supplied by our data providers (SHK Financial Data, Xinhua Finance and Infocast among others) and is for reference purposes only. Neither the Group nor any of its data providers is liable or responsible for the accuracy and reliability of the above information. The Group is not responsible for any loss or damage which may be incurred as a result of any decisions made in reliance on the information contained herein or caused by informational errors or delays.
