HONG KONG, May 8, 2015 /PRNewswire/ -- Golden Meditech Holdings Limited ("Golden Meditech", or the "Company", together with its subsidiaries collectively as the "Group", 801.HK; 910801.TW), a leading integrated healthcare enterprise in China announced today that it has entered into an agreement (the "Magnum Agreement") with Magnum Opus International Holdings Limited ("Magnum") to purchase the 7% senior convertible notes due 2017 with an aggregate outstanding principal amount of US$25 million (equivalent to approximately HK$194 million) (the "Magnum Note") issued by China Cord Blood Corporation ("CCBC"), a non-wholly owned subsidiary of the Group. Golden Meditech also entered into an agreement (the "CGL Agreement") with Cordlife Group Limited ("CGL") to purchase the 7% senior convertible notes due 2017 with an aggregate outstanding principal amount of US$25 million (equivalent to approximately HK$194 million) (the "CGL Note") issued by CCBC and 9.13% of the issued share capital of CCBC (the "CGL Sale Shares").
The aggregate purchase price for the Magnum Note, the CGL Note and the CGL Sale Shares is currently estimated to be approximately US$169.8 million (equivalent to approximately HK$1.32 billion) plus interest accrued on the Magnum Note and CGL Note from 3 October 2014 to the date when the purchases are completed. The purchase consideration is subject to (i) applicable distributions on the CCBC ordinary shares, if any, and (ii) any possible changes to the currently offered per CCBC ordinary share purchase price at US$6.40 as reflected in the Company's previously announced proposed "going-private" transaction, in each case, in accordance with the terms of the Magnum Agreement and CGL Agreement.
The completion of the purchase of the Magnum Note is subject to closing conditions, including Golden Meditech shareholder approval. The completion of the purchase of the CGL Note and the CGL Sale Shares is also subject to certain closing conditions, including the Golden Meditech shareholder approval and CGL shareholder approval.
For more information about the purchase proposal, please refer to the announcement published by the Company on 8 May 2015 under the link below: http://www.irasia.com/listco/hk/goldenmeditech/announcement/a141427-egm.pdf
About Golden Meditech Holdings Limited
Golden Meditech Holdings Limited ( www.goldenmeditech.com ) is China's leading integrated-healthcare enterprise. Golden Meditech is a first-mover in China, having established dominant positions in medical devices, and cord blood storage and hospital management businesses of thehealthcare services markets, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.
