China Cord Blood Corp (CO)

[mlkrborn]

China Cord Blood and Golden Meditech Holdings Limited enter into convertible note financing to further expand cord blood banking services; Mr. Yuen Kam will be appointed as Chairman (CO) 2.67 : Co and Golden Meditech Holdings, an integrated healthcare enterprise in China, announced that they entered into agreements under which Golden Meditech is expected to invest $50 million into CCBC to support its further business expansion and to capitalize on China's fast-growing healthcare services industry. The convertible note carries a 7% interest per annum and a total rate of return of 12% per annum. The convertible note holder can convert the convertible note into ordinary shares of the Company at a conversion price of $2.838. The total ordinary shares issuable represents approximately 15.5% of the enlarged share capital of the Company. Upon completion of the transaction, Mr. Yuen Kam, will be appointed as Chairman of CCBC and Ms. Ting Zheng will continue her role as the Chief Executive Officer of CCBC. Mr. Yuen Kam is currently the Chairman and Chief Executive Officer of Golden Meditech.