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5 Jun 2008 15:02
5 June 2008
LED International Holdings Limited
("LED International" or the "Company")
Subscription for Shares
LED International Holdings Limited (AIM: LED), a leading provider of LED display and lighting products, is pleased to announce today that Sino Boost International Holdings Limited (the "Subscriber") has agreed to subscribe for 29,692,084 new ordinary shares of HK$0.10 ("Ordinary Shares") each in the Company (the "Subscription Shares") at a price of 1p per Share (the "Subscription Price") for a total consideration of £296,921.
Upon admission to AIM of the Subscription Shares, the total issued share capital of the Company will be 178,152,504 Ordinary Shares. At this time, Sino Boost International Holdings Limited will be interested in 16.67% of the issued share capital of the Company.
Mr Thomas Li, Chairman of LED International commented, "We are delighted to welcome a new shareholder into LED International. Following the reorganisation of the Company in February 2008, we believe we are now well positioned to grow LED International both organically and through acquisition, and are committed to the creation of enhanced shareholder value."
Further information on the Subscription
The number of Subscription Shares to be allotted and issued under the Subscription is within the number of ordinary shares which the directors of LED International have authority to allot and free from statutory rights of pre-emption, pursuant to existing authorities granted by shareholders of LED International at the last annual general meeting of the Company held on 18 February 2008.
Application for the admission to AIM of the Ordinary Shares allotted above will be made and dealings are expected to commence on 11th June 2008. The Ordinary Shares will, on admission to AIM, rank pari passu with, and will be identical in all respects to, the existing ordinary shares of the Company.
For further information please contact:
LED International +852 2810 4470
www.led-intl.com
Dennis Ow, Executive Director
Zimmerman Adams International +44 (0) 207 060 1760
Dominique Doussot / Charity Walmsley
www.zimmint.com
ICIS +44 (0) 207 651 8688
Caroline Evans-Jones
Notes to Editors:
LED International and its subsidiaries specialise in the development, manufacture and sale of low powered / low maintenance LED screens and other LED products such as outdoor signs, lamps, lighting and building illumination. The screens are manufactured in a 'building block' format to a specific design, which allows screens to be assembled to suit a customer's size and definition specifications.
This design also ensures that the screens are relatively easy to transport and assemble. Based in Hong Kong, the Group's primary market has been the People's Republic of China ("PRC"), but it has also supplied end products to Macau, Japan and the USA. Part of the Group's strategy in 2007 was to widen its customer base to markets outside PRC.
The Company listed on AIM, part of the London Stock Exchange, on 23 October 2006.
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