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00261 GBA HOLDINGS
RTNominal up0.123 +0.001 (+0.820%)
Others

29/10/2010 11:10

CCT Tech (261) buys overseas medical gear patents at US$100m

CCT Tech International (00261) announced it has
acquired patents relate to cardio vascular medical devices and coronary stents in the US,
Canada, Europe, India and Japan as well as China at US$100 million.
Among the total consideration, CCT Tech will settle US$20 million in cash. The balance of
US$80 million will be paid by issuing 3.467 billion redeemable convertible preference
shares (CPS) at HK$0.18 apiece, a premium of about 28.57% to the adjusted closing price of
approximately HK$0.14. The vendor MIV Therapeutics can hold up to 30.66% interests in CCT
Tech assuming the full conversion of the redeemable CPS.
CCT Tech also proposed to change its board lot size from 80,000 shares to 20,000 shares.
(HL)

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