China SheSays Medical Cosmetology Inc. (fka CSAY)

[bUrRpPPP!]

Chinese Plastic Surgery Hospital Goes Public
Posted June 08, 2010 6:10PM PST

A Chinese company that operates plastic surgery hospitals went public through a reverse merger.

Through a share issuance and share purchase, Sichuan SHESAYS Cosmetology Hospital Co. acquired 95% of the shell company SN Strategies Corp. The combined company plans to rename itself China SHESAYS Medical Cosmetology.

As part of the transaction, the shell's merger subsidiary issued 10 common shares, or about 10% of its stock, for all the stock in Perfect Support Ltd., a British Virgin Islands company that owns all of SHESAYS. The 10 shares then converted into about 13.5 million shares.

Additionally, the BVI companies Techno Meg Ltd., and Leading Pioneer Ltd., the majority and minority shareholders of Perfect Support, purchased about 4.2 million shares for $175,000.

A Hong Kong corporation, Bondy Nominees Ltd. owns about 16.7 million, or about 92.8%, of the total post-merger stock. The owner of Bondy has agreements to sell about 47% of its stake to SHESAYS management over the next five years for a "nominal price."
Filing: 8-K


http://reversemerger.dealflowmedia.com/wires/article.cfm?title=Chinese-Plastic-Surgery-Hospital-Goes-Public&id=eniwafdfgvhqlym