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 China Grand Pharm (HKG:0512) to boost stocks in GPCCL to 91.1%
CreateTime:2012-07-04     Source:chinesestock.org Editor:qulina
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Written resolutions have been passed by all the shareholders of Grand Pharmaceutical (China) Co., Limited (GPCCL), a 75.95%-owned subsidiary of China Grand Pharmaceutical and Healthcare Holdings (HKG:0512), to increase GPCCL's registered capital from RMB185 million to RMB498 million by injecting additional capital of RMB313 million, China Grand Pharmaceutical and Healthcare said.

China Grand Pharmaceutical and Healthcare has agreed to contribute the entire additional registered capital of GPCCL at a total consideration of RMB359.95 million, while the minority shareholders indicated that they will not contribute to the increase in registered capital of GPCCL in proportion fo their respective existing shareholding in GPCCL.

The injection will increase China Grand Pharmaceutical and Healthcare's equity interest in GPCCL to 91.07%.


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