Issue of Equity

28 Oct 2009 07:00



ET-CHINA.COM INTERNATIONAL HOLDINGS LIMITED

("Et-china", "the Group" or "the Company")

Issue of shares

Et-china, a leading travel services group in the fast growing region of South China, has today made application for 1,561,306 new ordinary shares of no par value to be admitted to trading on AIM. These shares have been issued to the vendors of Yoee.com as the initial tranche of the consideration shares of up to 2.625 million Et-china shares following Et-china's acquisition of Yoee.com on 17 March 2009. As part of the acquisition of Yoee.com, up to a further 30 per cent. of the total potential share consideration is payable on Yoee.com meeting certain performance criteria for the financial year 2009. 

In addition, the Company has also made an application for a further 335,280 new ordinary shares of no par value to be admitted to trading on AIM in respect of Mr Matthew Ng's 2007 and 2008 bonus payments as set out in the Company's admission document dated 30 July 2007. Following this issue of shares, Mr Ng, Chief Executive Officer, now holds 3,601,922 ordinary shares of no par value which represents approximately 10.30% of the enlarged issued share capital of the Company.

Application has been made for 1,896,586 new ordinary shares of no par value to be admitted to trading on AIM and dealings are expected to commence on Monday 2 November 2009.

Following the admission of 1,896,586 new ordinary shares of no par value to trading, the enlarged share capital of the Company is 34,970,033  ordinary shares of no par value.

In addition, as announced on 21 May 2009, the Company issued 547,501 'A' or new ordinary shares to five senior executives of GZL which will be converted into ordinary shares of no par value upon certain conditions being met, at which time the Company will make application for those shares to be admitted to trading on AIM. 

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