Concord Medical Services Holdings Ltd (CCM)

[mlkrborn]

Concord Medical Services (thinly traded) announces acquisition of its shares by CEO and COO from other shareholders for an aggregate purchase price of ~ $103.8 mln (CCM) 4.80 +0.60 : Co announced that it has been informed that Mr. Jianyu Yang, the co's Chairman and CEO, Mr. Zheng Cheng, the co's director, President and COO, and certain other shareholders have entered into certain share purchase agreements. The co understands that pursuant to the Share Purchase Agreements, Mr. Yang and Mr. Cheng have agreed to establish a co under the laws of the British Virgin Islands as the purchaser and cause the purchaser to acquire an aggregate of 37,064,808 ordinary shares and 4,660,976 American Depository Shares, each representing three ordinary shares of the co, from certain other shareholders for a purchase price of $6.10 per ADS, with an aggregate purchase price of $103,797,063.21. It is currently expected that, upon the closing of such acquisition, the aggregate beneficial ownership of Mr. Yang and Mr. Cheng in the Company will increase to ~ 48.0%.