EMPEROR (China Concept) Investments declared its 10 cent a share offer for Hong Kong Daily News unconditional yesterday, claiming control of just under 61 per cent of the newspaper.
The company had received acceptances for 28.5 million shares and 289,957 warrants - 10.7 per cent of its issued share capital and 2.14 per cent of the outstanding warrants - said Emperor (China Concept) chairman Sonny Yeung.
Emperor (China Concept) and associated parties already had beneficial interests in 132.95 million shares and five million warrants, or 49.9 per cent of issued shares and 36.8 per cent of outstanding warrants, he said.
Including acceptances, Emperor and associates were left with 60.6 per cent of the issued capital of Hong Kong Daily News and just under 39 per cent of outstanding warrants, Mr Yeung said.
Emperor (China Concept) Investments is a 71 per cent subsidiary of Emperor International Holdings.
