RNS Number : 9347K
China Eastsea Business Software Ltd
31 December 2008
CHINA EASTSEA BUSINESS SOFTWARE LIMITED
('China Eastsea' or 'the Company')
EXERCISE OF SHARE OPTIONS ('the Options')
The Company is pleased to announce that following notifications of exercise from the option holders below, on 29 December 2008, the Board of Directors, on 30 December 2008, approved the exercise of a total of 5,286,000 options over the Company's Ordinary Shares. This was in accordance with the Company's share option agreement dated 08 January 2005 and as detailed in the Company's Admission Document dated 18 January 2008. Details of the Share Options to be exercised are as follows:
|
|
Option A
|
Option B
|
Consideration (GBP)
|
|
Interman Digital Limited
|
3,122,000
|
1,954,000
|
530,288
|
|
Booming Holdings Limited
|
90,000
|
120,000
|
22,902
|
|
|
|
|
|
|
Total Payment
|
3,212,000
|
2,074,000
|
553,190
|
The Option A are exercised at the price of 9.5 pence per share, a premium of 22.6% to the closing market price on 30 December 2008, and Option B are exercised at the price of 11.96p per share, a premium of 54.4% to the closing market price on 30 December 2008.
After exercising of these share options, the share capital of the Company has increased to 77,315,000 shares, and shareholdings of the top 5 major shareholders of the Company and their shareholdings are as follows:
|
|
Number of Ordinary Shares owned before Option Exercise
|
Number of Ordinary Shares owned after Option Exercise
|
Percentage of the Issued Share Capital
|
|
EASTSEA GROUP LIMITED*
|
21,450,000
|
21,450,000
|
27.74%
|
|
MC CAPITAL ASIA PACIFIC PRIVATE EQUITY FUND
|
8,732,000
|
8,732,000
|
11.29%
|
|
INTERMAN DIGITAL LIMITED
|
6,853,500
|
11,929,500
|
15.43%
|
|
BOOMING HOLDINGS LIMITED
|
6,571,500
|
6,781,500
|
8.77%
|
|
HUITUNG INVESTMENTS (BVI) LIMITED
|
6,369,000
|
6,369,000
|
8.24%
|
|
|
|
|
|
|
Total Ordinary Shares
|
72,029,000
|
77,315,000
|
|
The 5,286,000 new Ordinary Shares are expected to be admitted to AIM on, or shortly after, 06 January 2008.
The directors of China Eastsea Business Software Limited accept responsibility for this announcement.
For further information please contact:
ENQUIRIES:
This information is provided by RNS
The company news service from the London Stock Exchange
END
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