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Artel Solutions Group Holdings Ltd's subsidiary announces acquisition of shares and convertible bonds of Warderly International Holdings Limited


Tuesday, 21 Jan 2014 03:16am EST 

Artel Solutions Group Holdings Ltd:Says on Jan. 20, Kan and Key Fit, the wholly owned subsidiary of the company (collectively the Group) entered into the Sale and Purchase Agreement.Says pursuant Sale and Purchase Agreement Kan agreed to sell and Key Fit agreed to purchase 152,050,000 Warderly Shares for a total consideration of HK$7,602,500 (or HK$0.05 per Warderly Share) (Share Transaction) and.Says also convertible bonds in the principal amount of HK$80,000,000 Warderly Shares for a total consideration of HK$80,000,000 (CB Transaction).Says 152,050,000 Warderly Shares represents about 7.21 pct of the issued share capital of Warderly.Says assuming full conversion of the convertible bonds in the aggregate principal amount of HK$80,000,000 and the conversion price of HK$0.05 per conversion share.Says the 1,600,000,000 Conversion Shares to be issued represent about 43.13 pct* of the existing issued share capital of Warderly and about 13.21 pct* of the issued share capital of Warderly upon full conversion of all Convertible Bonds.Says completion of the transactions will take place on the seventh Business Day after the last of the above conditions is satisfied. 

Company Quote

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17 Dec 2014