HONG KONG, Nov. 10, 2010 /PRNewswire-Asia-FirstCall/ — China
Cord Blood Corporation (NYSE:
CO) (“CCBC” or “the Company”), the first and largest cord blood
bank operator in China, today commenced its previously announced
warrant exchange offer, and provided warrant holders with
participation details. The Company will offer to exchange one
ordinary share for every eight warrants. As agreed with the
underwriter of the Company’s recent public offering, persons
receiving ordinary shares in the exchange offer agree not to offer
or sell such shares until the 46th day after the consummation of
the exchange offer. The warrant exchange tender offer will continue
for a period of at least 20 business days starting from November
10, 2010, and is scheduled to expire on December 10, 2010, at
5:00pm United States Eastern Time.
Ms. Ting Zheng, Chairperson and CEO of China Cord Blood
Corporation commented, “Our warrant exchange offer is being
implemented to significantly simplify our corporate structure,
reduce the potential dilutive impact of the warrants, and further
align the interest among management, shareholders and
warrantholders.”
China Cord Blood Corporation had approximately 13,206,231
warrants and 73,746,350 ordinary shares issued and outstanding as
of November 10, 2010. The company expects to issue 1,650,778
ordinary shares in exchange for 13,206,231 warrants, representing
approximately 2.2% of the total ordinary shares issued and
outstanding. To participate in the exchange program, warrantholders
must tender their warrants in accordance with the instructions
included in the Offer Letter, no later than 5:00pm United States
Eastern Time on December 10, 2010.
Ms. Ting Zheng concluded, “The past nine months marked several
important milestones in our corporate development history. We are
excited as our operations in Beijing and Guangdong continue to
bea
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