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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vision OP China | LSE:VOC | London | Ordinary Share | GG00B28DJ748 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.115 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4817K Vision Opportunity China Fund Ltd 21 December 2007 This is an amendment to the announcement issued on 20 December 2007 under RNS number 3672K in which the third bullet point should have read "the right to purchase an additional $3.66 million of preferred shares" not "$2.56 million". The rest of the announcement remains unchanged. Please see below the updated version of the announcement. NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN THE UNITED STATES, CANADA, AUSTRALIA, REPUBLIC OF SOUTH AFRICA OR JAPAN Vision Opportunity China Fund Limited Initial Investment Vision Opportunity China Fund Limited ("VOC") (AIM:VOC.L) announces the completion of its first investment since listing on the AIM market. The Company has made a $2.56 million investment in Astrata Group, Inc. (OTCBB:ATTG). Astrata, based in Singapore, designs, develops, manufactures and sells location-based IT services and solutions for homeland security and commercial applications, worldwide. In return for its investment, VOC received the following: *preferred shares that are convertible into common shares of Astrata at $0.70 per share; *warrants to purchase approximately 1.83 million common shares of Astrata at a purchase price of $1.00 per share and an additional 1.83 million common shares at $1.50 per share; and *the right to purchase an additional $3.66 million of preferred shares over the next 12 months with warrants to purchase approximately 1.83 million common shares of Astrata at a purchase price of $1.25 per share and warrants to purchase 1.83 million common shares of Astrata at a purchase price of $1.75 per share receivable upon making the additional investment. VOC acted as the lead investor in the $3 million total financing, co-investing alongside Vision Opportunity Master Fund Ltd, which is chartered and managed independently from VOC. Astrata is an advanced location-based IT services and solutions (telematics) business that enables businesses and institutions to monitor, trace and control the movement and status of machinery, vehicles, personnel or other assets. It has offices in Asia, the US and Europe. The co-investment is in accordance with VOC's allocation guidelines and has been approved by VOC's Investment Committee. "We have watched Astrata successfully grow its business from a single contract with the Singapore government to a substantial operation with contracts worth more than $120 million with several sovereign governments and commercial institutions. The business has also secured a major supply agreement with Siemens AG (XETRA:SIE.DE)" stated Adam Benowitz, the portfolio manager of VOC at Vision Capital Advisors, LLC. Enquiries to: Vision Opportunity China Fund Limited David Benway, Director / Adam Benowitz, Portfolio Manager www.vocfund.com/ Tel: +1 (212) 849 8225 Fairfax I.S. PLC Paul Richards/ James King Tel: +44 (0) 20 7598 5368 Bankside Consultants Limited Simon Rothschild/Oliver Winters Tel: +44 (0) 20 7367 8888 NOTE TO EDITORS Vision Opportunity China Fund Limited Vision Opportunity China Fund Limited ("VOC") is a closed end listed fund traded on the AIM market of the London Stock Exchange plc (AIM) with current assets under management of approximately $95 million. VOC primarily invests directly in listed companies with operations principally within Greater China. Greater China is a collective term for the territories administered by the People's Republic of China, those administered by the Republic of China and Singapore. Astrata Group, Inc. Astrata Group, Inc., (OTC Bulletin Board: ATTG - News) is a US listed company. Astrata is focused on advanced location-based IT services and solutions (telematics) that combine GPS positioning, wireless communications (satellite or terrestrial) and geographical information technology, which together enable businesses and institutions to monitor, trace and control the movement and status of machinery, vehicles, personnel or other assets. Astrata has designed, developed, manufactured and currently supports seven generations of telematics systems with units deployed worldwide. Astrata has offices throughout the world including the United States, Europe and Asia. For further information, please visit www.astratagroup.com. This information is provided by RNS The company news service from the London Stock Exchange END MSCKGMZZLMNGNZG
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