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CII: CII Meets with a Prominent Fund from South Korea According to published news, this morning, CII has discussed with a prominent fund from South Korea regarding direct or indirect investment into CII.
The discussion ended successfully. Representatives from both parties have reached an agreement which, according to us, is fair to CII shareholders, CII, and the fund, specifically:
- In case CII successfully purchases 34 million treasury shares, the fund can invest directly into CII. In that case, CII will use the treasury shares to issue exchangeable bonds to the fund, attaching certain conditions to guarantee that the issuance will benefit current shareholders.
- In case CII does not successfully purchase treasury shares, the fund can indirectly invest in CII through CII shareholders under the form of exchangeable bonds.
- We want to notice that this agreement is not legally binding and is representatives from both parties are still discussing specific terms. CII Management will report to BOD on this matter during the upcoming BOD meeting, and will report to IC before final agreements are made.
(Source: http://cii.com.vn) HOSE
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