Bonso Electronics (NASDAQ:BNSOZ)
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Bonso Electronics International Inc. Extends the Exercise Date and Reprices
Outstanding Warrants
HONG KONG, Dec. 17 /PRNewswire-FirstCall/ -- Bonso Electronics International,
Inc. (the "Company") today announced an amendment to the terms of outstanding
warrants (the "warrants") to purchase shares of the Company's common stock. The
expiration date of the warrants was extended from December 31, 2003 until
February 13, 2004. The warrants will now expire at 2:00 PM (Pacific Time)
February 13, 2004. In addition to extension of the warrants, the Company's
Board of Directors approved changes to the exercise price of the warrants. The
exercise price of the warrants was reduced from $17.50 to $8.25. Each two
warrants are exercisable to now purchase one share of our common stock at an
exercise price of $8.25. No other term or condition relating to the warrants or
their exercise was amended.
The warrants, which were a dividend to holders of record on January 19, 2000.
Holders of the warrants will be notified by mail and provided with the details
of the changes.
"We have made the adjustments to our publicly traded warrants as part of our
overall financing strategy," said Anthony So, Bonso's President and CEO.
This press release does not constitute an offer to sell or a solicitation of an
offer to purchase securities and is qualified in its entirety by the more
detailed information set forth in the Sticker Supplement to the Company's
Prospectus filed with the Securities and Exchange Commission on December 17,
2003.
About Bonso Electronics
Headquartered in Hong Kong, Bonso Electronics designs, develops, manufactures,
assembles and markets a comprehensive line of telecommunications products,
electronic scales and weighing instruments. Bonso products are manufactured in
the People's Republic of China with customers primarily located in North America
and Europe. Company services include product design and prototyping, production
tooling, procurement of components, total quality management, and just-in-time
delivery. For further information, visit the company's web site at
http://www.bonso.com/ .
The statements contained in the press release, which are not historical fact are
forward-Looking statements that involve certain risks and uncertainties
including, but not limited to, risks associated with the uncertainty of future
financial results, seasonality of sales of certain products, additional
financing requirements, development of new products, government approval
processes, the impact of competitive products or pricing, technological changes,
currency fluctuations, estimates of market growth, the effect of economic
conditions and other uncertainties detailed in the company's filings with the
United States Securities and Exchange Commission.
USA Contact:
George O'Leary
Tel: +1-949-760-9611
Fax: +1-949-760-9607
Hong Kong Contact:
Cathy Pang
Tel: +852-2605-5822
Fax: +852-2691-1724
DATASOURCE: Bonso Electronics International, Inc.
CONTACT: In USA, George O'Leary, +1-949-760-9611, or fax,
+1-949-760-9607, or in Hong Kong, Cathy Pang, +852-2605-5822, or fax,
+852-2691-1724, both of Bonso Electronics International Inc.
Web site: http://www.bonso.com/