HONG KONG, Sept. 13 /PRNewswire-Asia-FirstCall/ -- China
Cord Blood Corporation ("CCBC" or "the Company") (NYSE: CO),
China's leading provider of cord
blood collection, laboratory testing, hematopoietic stem cell
processing, and stem cell storage services, today announced its
intention to conduct a share exchange with all existing warrant
holders, in which the Company will offer to exchange one ordinary
share for every eight warrants.
Ms. Ting Zheng, Chairperson and CEO of China Cord Blood
Corporation commented, "The proposed exchange offer will streamline
and simplify our shareholding structure as well as corporate
structure."
China Cord Blood Corporation had approximately 13,202,731
warrants and 67,039,796 ordinary shares issued and outstanding as
of September 10, 2010. The proposed
exchange offer should significantly reduce the potential dilutive
effect, while also removing the significant equity overhang
associated with the warrants. Details of the exchange offer are
expected to be available shortly.
Ms. Ting Zheng further commented, "We strive to be a responsible
public company. As we focus on delivering solid operational and
financial performance, we will not overlook the interests of our
shareholders. The proposed exchange offer is a balanced approach to
ensure that the interests of our Company, our shareholders and
warrant holders are all aligned."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood
banking operator in China in terms
of geographical coverage and is the only cord blood bank operator
with multiple licenses. Under the current PRC government
regulations, only one licensed cord blood bank operator is
permitted to operate in each licensed region and only six licenses
have been issued as of today. China Cord Blood Corporation provides
cord blood collection, laboratory testing, hematopoietic stem cell
processing, and stem cell storage services. For more information,
please visit our website at http://www.chinacordbloodcorp.com .
Important Information
This press release and the description contained herein are for
informational purposes only and are not an offer to purchase or a
solicitation of an offer to sell securities of the Company. The
exchange offer described herein has not yet been commenced. At the
time the exchange offer is commenced, the Company intends to file a
tender offer statement on a Schedule TO containing an offer to
exchange, a letter of transmittal and other related documents with
the Securities and Exchange Commission (the "SEC"). Such documents
will be mailed to warrant holders of record and will also be made
available for distribution to beneficial owners of warrants of the
Company. The solicitation of offers to exchange warrants for
ordinary shares of the Company will only be made pursuant to the
offer to exchange, the letter of transmittal and related documents.
Warrant holders are advised to read the offer to exchange, the
letter of transmittal and all related documents, if and when such
documents are filed and become available, as they will contain
important information about the exchange offer and proposed warrant
exchange. Security holders can obtain these documents when they are
filed and become available free of charge from the SEC's website at
www.sec.gov. In addition, copies of these documents and other
filings containing information about the Company may be obtained,
if and when available, without charge, by directing a request to
China Cord Blood Corporation, Attention: Albert Chen, Chief Financial Officer, at +852
3605 8180, or on the Company's corporate website at
http://www.chinacordbloodcorp.com .
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events, performance and
results of operations, and underlying assumptions and other
statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including,
but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulation, and other risks
contained in statements filed from time to time with the Securities
and Exchange Commission. All such forward-looking statements,
whether written or oral, and whether made by or on behalf of the
Company, are expressly qualified by the cautionary statements and
any other cautionary statements which may accompany the
forward-looking statements. In addition, the Company disclaims any
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law
Tel: +852-3605-8180
Email: ir@chinacordbloodcorp.com
ICR, LLC
In New York:
Ashley M. Ammon or Christine Duan
Tel: +1-646-277-1227
In Beijing:
Wen Lei Zheng
Tel: +86-10-6599-7968
SOURCE China Cord Blood Corporation
Copyright . 13 PR Newswire