| Miscellaneous | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | CHINA SUN BIOCHEM TECH GP CO. |
| Company Registration No. | CT-136769 |
| Announcement submitted on behalf of | CHINA SUN BIOCHEM TECH GP CO. |
| Announcement is submitted with respect to * | CHINA SUN BIOCHEM TECH GP CO. |
| Announcement is submitted by * | Sun Guiji |
| Designation * | Executive Chairman and Chief Executive Officer |
| Date & Time of Broacast | 01-Nov-2007 20:09:26 |
| Announcement No. | 00180 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | ACQUISITION OF SHARE CAPITAL OF TIELING WANSHUNDA STARCH CO. LIMITED |
| Description | Further to the announcement made on 12 April 2007 (Announcement No. 00124) relating to the proposed acquisition of a wholly-owned foreign enterprise in the People''s Republic of China ("PRC"), the Board of Directors of China Sun Bio-chem Technology Group Company Ltd. (the "Company") wishes to announce that Sky Bright Group Limited, a wholly-owned subsidiary of the Company, has completed the acquisition of the entire share capital of Tieling Wanshunda Starch Co. Limited ("Tieling Wanshunda"), from Harvest Rich Investment Limited, on 23 October 2007. The registered capital of Tieling Wanshunda is US$20 million. Tieling Wanshunda is the owner of the corn processing plant (the "Plant"), located in Tieling City, Liaoning Province, PRC. The Plant has completed the upgrading and expansion in order to achieve the annual starch production capacity of 300,000 tonnes ahead of its scheduled completion date of 10 January 2008. Commercial production of the Plant is expected to start in 1Q2008 following successful trial production of the designed capacity. The above investment was funded by part of the Company's proceeds arising from the issuance of the Convertible Bonds raised in 2006. To the best knowledge of the Directors, none of the Directors or substantial shareholders of the Company has any interest, direct or indirect (other than through their shareholdings in the Company), in the above transaction. |
© 2007 SGX News
