We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 |
TIDMVOC
RNS Number : 2089C
Vision Opportunity China Fund Ltd
27 April 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN
April 27, 2012
Vision Opportunity China Fund Limited
(the "Company" or "VOC")
Sales of Investments.
Vision Opportunity China Fund Limited (AIM: VOC.L) today reports that it has sold all shares of common stock held by it, including the issued shares of common stock resulting from the conversion and exercise of Series A Convertible Preferred Stock, in Shengkai Innovations, Inc. ("Shengkai") (NASDAQ:VALV) through a series of on-market transactions at close to market prices. The sale has no material impact on NAV. The net proceeds will be held in cash pending distribution to shareholders.
Shengkai is primarily engaged in the design, manufacture and sale of ceramic vales in China. VOC invested an aggregate of US$15.3 million in Shengkai on 14 February 2008 and 9 June 2008. In return for its investment, it received*:
a) 338,750 shares of common stock;
b) Series A Convertible Preferred Stock convertible into 2,957,763 shares of Shengkai's common stock at a conversion price of $5.0714 per share; and
c) 5 year Series A Warrants to purchase up to 3,549,316 shares of Shengkai's common stock at an exercise price of $7.04 per share.
* Shengkai's share counts and conversion prices have been adjusted to reflect the 1 for 2 reverse stock split effective 9 March 2012.
In addition, VOC reports that on 23 April 2012, it agreed to sell all of the warrants it held in Shengkai, Tianyin Pharmaceutical Co, Inc. (AMEX:TPI) and Wuhan General Group China, Inc. (NASDAQ:WUHN) through a private sale. The total net sale proceeds from the transaction will be US$46,250.
No dividends were paid on the Shengkai shares during VOC's ownership. VOC first undertook a partial realisation of its investment in Shengkai on 11 May 2009. The total proceeds from all sales of approximately $11.94 million in cash has resulted in a realised loss of $3.38 million on VOC's investment in Shenkai.
For further information, please contact:
Vision Opportunity China Fund Limited Tel: +1 (212) 849 8225
Adam Benowitz
Canaccord Genuity Limited Tel: +44 (0)20 7050 6500
Sue Inglis
FTI Consulting Tel: +44 (0)20 7269 7132
Ed Gascoigne-Pees / Ed Berry
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUWUCUPPUGM
1 Year Vision OP China Chart |
1 Month Vision OP China Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions