Xinhua Mobile Limited

September 25, 2015 13:37 ET

Xinhua Mobile Limited Converted All of Its Convertible Debentures of GINSMS Inc. Into Common Shares

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 25, 2015) - Xinhua Mobile Limited ("XMobile"), a wholly-owned subsidiary of Xinhua Holdings Limited ("Xinhua"), a company which securities are listed on the Tokyo Stock Exchange and whose Chief Executive Officer is Mr. Lian Yih Hann announces that it has converted all of its convertible debentures of GINSMS (the "Convertible Debentures") having an aggregate principal amount of C$6,255,484 into 62,554,840 common shares (the "Common Shares") at the conversion price of C$0.10 per common share (the "Transaction").

Immediately after the Transaction, XMobile, together with its current ownership of 28,123,320 common shares representing 54.57% of all issued and outstanding shares of GINSMS, will own 90,678,160 common shares of GINSMS, representing 63.58% of all issued and outstanding common shares of GINSMS.

XMobile acquired the Convertible Debentures pursuant to a private agreement entered with One Heart International Limited. The conversion of the Convertible Debentures into Common Shares required no prospectus exemption.

Contact Information

  • Xinhua Holdings Limited
    Lian Yih Hann
    852-3196 3977

    Xinhua Mobile Limited
    Cricket Square
    Hutchins Drive
    P.O. Box 2681
    Grand Cayman, KY1-1111
    Cayman Islands