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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Luye Pharma Group Ltd    LUYE   BMG5722Z1014

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LUYE PHRM : Exercise Of The Call Option By Luye Biotech (Singapore) Pte Ltd Under The Investment Agreement To Acquire All The Shares Held By Biomedical Sciences Investment Fund Pte Ltd In The Issued Share Capital Of A-Bio Pharma Pte Ltd

07/25/2011 | 06:35am US/Eastern

LUYE PHARMA GROUP LTD.

(INCORPORATED IN BERMUDA)

EXERCISE OF THE CALL OPTION BY LUYE BIOTECH (SINGAPORE) PTE LTD UNDER THE INVESTMENT AGREEMENT TO ACQUIRE ALL THE SHARES HELD BY BIOMEDICAL SCIENCES INVESTMENT FUND PTE LTD IN THE ISSUED SHARECAPITAL OF A-BIO PHARMA PTE LTD

Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the Company?s announcement dated

30 July 2010 in relation to the Strategic Investment in A-Bio Pharma Pte Ltd by Luye-Biotech

(Singapore) Pte Ltd.

The Board of Directors of Luye Pharma Group Ltd. (?Luye? or ?the Company?) is pleased to announce that Luye Biotech, a wholly-owned subsidiary of the Company, has exercised the Call Option under the Investment Agreement to acquire all of BMSIF?s shares comprising (i) one (1) ordinary share and (ii) 2,500,000 preference shares (Series B Preferred Shares) (collectively known as the ?Call Option Shares?) in A-Bio Pharma Pte Ltd (?A-Bio?) at a Option Consideration of S$2,750,000.

When the acquisition is completed, the Company will own 100% of the entire issued share capital of A-Bio through another wholly-owned subsidiary, Shandong Luye Pharmaceutical Co. Ltd.

The Option Consideration will funded by internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company for the current financial year ending 31 December 2011.

None of the Directors or controlling shareholders has any interest, directly or indirectly, in the transaction.

By Order of the Board

Liu Dianbo

Executive Chairman

Date: 25 July 2011
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