Key Developments For Wuhan General Group (China), Inc.
Wuhan General Group (China), Inc. (WUHN.O) (Consolidated Issue listed on NASDAQ Capital Market)
Wuhan General Group China Inc. Sees FY 2009 Revenue Outlook At High End Of Prior Range; Reiterates FY 2009 Net Profit Outlook
Wuhan General Group China Inc. announced that for fiscal 2009, it expects to to achieve the high end of its previously stated outlook of revenues between $70-$80 million and to meet net income between $7-$8 million, excluding the impact of non-cash penalty charge associated with the Company's capital market activities.
Wuhan General Group China Inc. Signs $44.4 Million Long Term Loan Agreement With Standard Chartered Bank
Wuhan General Group China Inc. announced that it signed a Loan Agreement with Standard Chartered Bank (China) Limited, Guangzhou Branch (the Lender) on November 11, 2009. Under the Loan Agreement, the Company will receive a loan facility totaling RMB 303.1 million (approximately $44.4 million) in senior secured debt financing consisting of two tranches, a term loan facility for up to RMB 211.6 million (approximately $31.0 million; Tranche A) and a term loan facility for up to RMB 91.5 million (approximately $13.4 million; Tranche B). In connection with the Loan Agreement, the Borrowers entered into an agreement with Standard Chartered Corporate Advisory Co. (Beijing), Ltd. (the Advisor) for certain advisory and management services. Under this agreement, the Borrowers agreed to pay to the Advisor a management fee of 1% of the net gross revenues of the Borrowers in connection with Tranche B. This management fee remains valid and payable until one year after the maturity date of the loans. In addition, the Borrowers have agreed to pay to the Advisor an advisory fee of 8% of the loans.
Wuhan General Group China Inc. Reaffirms FY 2009 Guidance
Wuhan General Group China Inc. reaffirmed its fiscal 2009 guidance and expects revenues to be in the range of $70 to $80 million and net income to be between $7 and $8 million.
Wuhan General Group China Inc. To Join Russell Microcap Index
Wuhan General Group China Inc. announced that it will join the Russell Microcap Index when Russell Investments reconstitutes its family of U.S. indexes on June 26, according to a preliminary list of additions posted June 12.
Wuhan General Group China Inc. Comments On H2 2009 Revenue Outlook; Reiterates FY 2009 Outlook
Wuhan General Group China Inc. announced that it expects sales to improve in the second half of 2009. For fiscal 2009, it reiterated revenue outlook between $70-$80 million and net income between $7-$8 million.
