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Wintime Energy Co Ltd to Acquire China-based Companies; to Issue New Shares


Wednesday, 17 Apr 2013 08:00pm EDT 

Wintime Energy Co Ltd announced that it has decided to issue 480,109,797 A shares of its common stock with a par value or RMB 1 per share, at the price of RMB 11.84 per share, or for RMB 5.6845 billion in total, through a private placement to a Shanxi-based energy company (67,736,486 shares), Mr. Yan Fawang (56,165,541 shares), Mr. Ru Linglong (2,956,081 shares), Mr. Yan Shouli (47,683,398 shares), Mr. Wu Jingyu (42,181,467 shares), Mr. Ma Baiming (58,873,618 shares), Mr. Ma Ruiyi (23,645,961 shares), Mr. Ma Haijun (23,645,961 shares), Mr. Shi Jingren (72,761,824 shares), and its controlling shareholder (84,459,460 shares). As details, apart from the 84,459,460 shares issued to its controlling shareholder, which is principally engaged in project investment business, the other new shares are issued to acquire the residual equities in six 51%-owned subsidiaries of the Company, respectively. The six subsidiaries are all engaged in coal business, based in Shanxi province. Additionally, the controlling shareholder will pay the Company RMB 1 billion for the 84,459,460 new shares issued. 

Company Quote

4.61
-0.02 -0.43%
26 Dec 2014