(21 November, 2016, Hong Kong) Fullshare Holdings Limited (“Fullshare Holdings” or the “Company”, which together with its subsidiaries, is referred to as the “Group”; SEHK stock code: 607), is pleased to announce that as at 21 November 2016, the first closing date for the valid acceptances of the offer, over 68% of China High Speed Transmissions’ shareholders accepted the share exchange offer by the wholly-owned subsidiary of the Company’s offer in relation to the acquisition all of the issued shares of China High Speed Transmission Equipment Group Co., Ltd (“China High Speed Transmission”; SEHK stock code: 658), in which the valid acceptances received under the Offer together with the Offeree Shares already held by the Offeror, Fullshare and parties acting in concert with any of them, comprise approximately 77.15% of the voting rights of the Offeree Company. The offer has become unconditional in all aspect, marking the Group’s diversification into environmental protection equipment and new energy.
According to the proposed transaction, Fullshare Holdings intended to exchange every five of its new shares for every two shares of China High Speed Transmission. The offer will remain open for acceptance until 4:00 pm on 5 December, 2016, which shall also be the final closing date for the offer. Upon the completion of the acquisition, China High Speed Transmission will become a subsidiary of Fullshare Holdings.
Mr. Ji Changqun, Executive Director, Chairman and Co-CEO of Fullshare Holdings said, “It is encouraging that more than 68% of the shareholders have accepted the offer. This has shown the shareholders are confident about the prospects of both Fullshare and China High Speed. Fullshare Holdings will continue to seize market opportunities and will develop itself into a leading health services provider in the world as it endeavours to bring better returns to shareholders.”