DGAP-News: AsiaPac Capital Services Enters Discussions to Sell Minority Interest in Company
(firmenpresse) - Asiapac Capital Services Inc. / Acquisition
16.02.2010 08:30
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Toronto, Canada - (For immediate release) - February 16, 2010 08:30 CET
AsiaPac Capital Services Ltd.,: Deutsche Börse symbol: 5AP. (www
.asiapaccapital.ca), announced today that Interline China, an investment
company based in Shanghai, China with partners from Fujian (China) State
Intl Corp.; Sichuan Longxin Investment Co.; and Hong Kong based Hillford
Co. Ltd.; is considering acquiring a 40% stake in AsiapacCapital Services.
Interline investments are focus mainly on mining and power generation
assets, and is interested in taking an active position in the Company's
Renewable Energy projects as well as its mining properties.
The transaction is initially being priced at EUR4.50 per share, a
significantpremium above its last traded price. With total current
outstanding common stock of approximately 6.9 million shares, the
investment represents the sale of an additional 4.6 million shares from
treasury. Total proceeds are anticipated of EUR20.7 million, or just over
$28 million USD.
The Partiesanticipate announcing a more definitive Letter of Intent within
the next week to ten days. Interline assets as at the end 2009 are
estimated to be close to $100 million USD.
Company President, Mr. Samuel Lee, noted; 'Our projects are based in the
Philippines, which offer many attractive elementsfor Interline. With a
stable political climate, year-round mining capabilities, and a broad array
of government incentives for foreign owned investment, particularly in the
renewable energy and mining sectors, AsiaPac is well-positioned to launch a
number of business projects that have been very favorably reviewed by
Interline. We have an excellent network of business partners,
professionals and a strong pipeline of potential projects already in
place.'
The Company will be releasing further information as based on additional
developments in this area.
Disclaimer&Safe Harbor Statement:
This release includes forward looking statements, which are based on
certain assumptions and reflects management's current expectations. These
forward looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations. The Company disclaims any intention
or obligation to update or revise any forward looking statements, whether
as a result of new information, future events or otherwise. 'Safe Harbor'
Statement under the U.S. Private Securities Litigation Reform Act of 1995:
This release contains certain 'forward-looking' statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Copyright (c) 2010 Asiapac Capital Inc. All rights reserved.
For further information please contact:
AsiaPac Capital Services Ltd.
557A Eglinton Ave West,
Toronto, Canada M5N 1B5
Phone: 1-416-800-2080
Email: info(at)asiapaccapital.ca
16.02.2010 08:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 16.02.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 17055
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