HONG KONG, April 6, 2017 /PRNewswire/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today announced that the Company received notification of exercise of all 7% senior convertible notes ("Notes") held by Golden Meditech Stem Cells (BVI) Company Limited ("GMSC", the "Holder"), a subsidiary of Golden Meditech Holdings Limited beneficially owning 65.4% of the Company on a fully diluted basis.
The aggregate principal amount of the Notes held by GMSC amounts to US$115 million. The conversion price is $2.838 per share. Upon conversion, the Company's total number of ordinary shares outstanding will be increased by approximately 40.5 million to 120.6 million (excluding treasury shares).
Subsequent to such conversion, the Company will have no outstanding convertible notes.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and no new licenses will be granted before 2020 in addition to the seven licenses authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the U.S. Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
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SOURCE China Cord Blood Corporation