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HONG KONG, Aug 7, 2009 - (ACN Newswire) - Kai Yuan Holdings Limited ("Kai Yuan", "the Company") (SEHK Code: 1215) announced that Mr. Hu Yishi ("Mr. Hu"), Chairman of the Company, exercised 200,000,000 shares of convertible notes held by him at HK$0.177 per share, with a total conversion price of HK$35,400,000 on 7 August 2009.
Mr. Hu currently holds 509,470,000 shares, representing approximately 5.58% of issued share capital of the Company. Together with the 200,000,000 shares of convertible notes exercised, Mr. Hu's shareholding shall increase to 709,470,000 shares, and his stake in the Company shall rise to 7.60%.
Mr. Hu Yishi, Chairman of Kai Yuan, said, "The exercise of convertible notes of Kai Yuan, is my vote of confidence in the business of Kai Yuan. I am optimistic that Kai Yuan shall be able to grasp every opportunity that comes along in the future to increase shareholders' value."
Contact:
JOVIAN Financial Communications Ltd.
Angel YY Yeung / Jacqueline Fong
Tel No: (852) 2581 0168
Fax No: (852) 2854 2012
Email: angel@joviancomm.com
Email: jacqueline.fong@joviancomm.com
Topic: Corporate Announcement
Source: Kai Yuan Holdings Limited
Sectors: Daily Finance, Energy, Alternatives, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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