Sale of holding in Lihua International, Inc.

 

TIDMVOC 
 
RNS Number : 2297F 
Vision Opportunity China Fund Ltd 
08 January 2010 
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO THE UNITED 
STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN 
 
 
8 January 2010 
Vision Opportunity China Fund Limited 
(the "Company" or "VOC") 
Sale of holding in Lihua International, Inc. 
Vision Opportunity China Fund Limited (AIM: VOC.L) today announces that it has 
converted all its Series A Convertible Preference Stock and has exercised all 
its Series A Warrants in Lihua International, Inc. ("Lihua")(NASDAQ:LIWA) and 
has sold all of the issued shares of Common Stock resulting from such conversion 
and exercise.  The total gross proceeds of approximately US$32.0 million from 
the Common Stock sales resulted in a realised gain of 339% on the total amount 
invested. 
 
 
VOC initially invested US$7 million in Lihua on 31 October 2008. In return for 
its investment, it received: 
 
 
a) Series A Convertible Preferred Stock convertible into 3,181,818 shares of 
Lihua's Common Stock at a conversion price of $2.20 per share; and 
 
 
(b) 5 year Series A Warrants to purchase up to 700,000 shares of Lihua's Common 
Stock at an exercise price of $3.50 per share. 
 
 
VOC intends to invest the sale proceeds according to its stated Investment 
Policy. 
 
 
For further information, please contact: 
 
 
Vision Opportunity China Fund Limited 
David Benway / Adam BenowitzTel: [phone] 
 
 
Canaccord Adams Limited            Tel: [phone] 
Robert Finlay / Guy Blakeney 
 
 
Financial Dynamics                  Tel: [phone] 
Ed Gascoigne-Pees / Ed Berry 
 
 
 
 
NOTE TO EDITORS 
Vision Opportunity China Fund Limited is a closed-ended listed fund traded on 
AIM. 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. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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