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XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED XINQUAN (5155)

0.055 0.000 (0.00 %)

High: 0.065     Low: 0.035     Vol: 37,818,500 Average Vol: 0

last updated: 1-Nov-2017 4:56 PM
Company: XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED
Date Announced: 04-Jan-2011
Subject: XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED (“XINGQUAN” OR THE “COMPANY”) (I) PROPOSED SPONSORSHIP OF A TAIWAN DEPOSITARY RECEIPTS (“TDR”) PROGRAMME IN TAIWAN BY XINGQUAN (“PROPOSED TDR PROGRAMME”); AND (II) PROPOSED ISSUE AND ALLOTMENT OF UP TO 46,099,500 NEW ORDINARY SHARES OF UNITED STATES DOLLAR (“USD”) 0.10 EACH IN XINGQUAN (“XINGQUAN SHARES”), AT AN ISSUE PRICE TO BE DETERMINED LATER, THAT REPRESENT THE UNDERLYING SHARES (“UNDERLYING SHARES”) FOR THE TDR TO BE ISSUED AND ALLOTTED IN TAIWAN IN CONNECTION WITH THE PROPOSED TDR PROGRAMME (“PROPOSED ISSUANCE”) (COLLECTIVELY, (I) AND (II) ARE REFERRED TO AS THE “PROPOSALS”)
Content: We refer to the announcements dated 18 October 2010 and 29 October 2010 in relation to the Proposals. All abbreviations herein shall have the same meaning as those used in the abovementioned announcements unless stated otherwise. On behalf of Xingquan, CIMB Investment Bank Berhad wishes to announce that the Controller of Foreign Exchange (via Bank Negara Malaysia) has, vide its letter dated 29 December 2010, which was received on 3 January 2011, approved the Proposals subject to Xingquan obtaining the approval and adhering to the conditions imposed by the relevant authorities in Malaysia. This announcement is dated 4 January 2011.
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