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HONG KONG, July 13, 2010 - (ACN Newswire) - China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK) is pleased to announce today that, the Company has informed the board of directors of C Y Foundation Group Limited ("C Y Foundation", Stock Code: 1182.HK) about the making of the Possible Offer through Asian Capital (Corporate Finance) Limited ("Asian Capital (Corporate Finance)"). The acqusition will be subject to the approval of shareholders of the Company.
China Trends has, through Asian Capital (Corporate Finance), informed the board of directors of C Y Foundation, a company listed on the Main Board of the Stock Exchange, that the Company is contemplating making a voluntary securities exchange general offer for all the issued shares of C Y Foundation involving the issue of new shares of the Company.
In the event that the Possible Offer is made, a separate offer will be made for all the outstanding share options of C Y Foundation. The Company is in the process of determining the terms and conditions of the Possible Offer. It has been contemplated that the making of the Possible Offer may constitute a very substantial acquisition of the Company under the GEM Listing Rules and accordingly, the making of the Possible Offer will be subject to, among other things, the approval of shareholders of the Company in accordance with the requirements of the GEM Listing Rules.
The Company will commence discussion with the board of directors of C Y Foundation for the purpose of a due diligence exercise, if necessary. The Company may also approach the substantial shareholders of C Y Foundation in seeking commitment of acceptance of the Possible Offer.
Contact:
Carmen Lee
Investor Relationship Department
China Trends Holdings Limited
Email: carmen.lee@8171.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Fax: +852 2111 9989
Topic: Merger & Acquisition
Source: China Trends
Sectors: Alternative Energy
http://www.acnnewswire.com
From the Asia Corporate News Network
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