TMCNet:  Hunan TV&Broadcast Intermediary Plans Additional Share Issue

[December 18, 2012]

Hunan TV&Broadcast Intermediary Plans Additional Share Issue

CHANGSHA, Dec 18, 2012 (SinoCast Daily Business Beat via COMTEX) -- Hunan TV & Broadcast Intermediary Co., Ltd (SZSE: 000917) expects to issue additional shares in the first half of next year.

A responsible person of the company stated at an online investor exchange conference on December 17 that even if its additional share issuance plan had been approved by the extraordinary general meeting, it had still to be reported to the CSRC (China Securities Regulatory Commission) and had to undergo preliminary review, feedback reply and the approval of related committee under the CSRC. The company will choose an appropriate time for the issuance after the acquisition of the written approval, possibly in the first half of 2013.

The person also stated that several strategic investors had issued letters of intent for the subscription of additional shares. Besides, although the company's share has long been traded lower than the additional issue price of CNY 10.28/share, the company has no plan to adjust the additional issuance at present.

Source: (December 18, 2012)

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