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Hogan Lovells Advises SIM Technology on US$22 Million Rights IssueDec 28, 2012 (M2 PRESSWIRE via COMTEX) -- Hogan Lovells has advised SIM Technology Group Limited ("SIM Technology") on its one for two rights issue to raise US$22 million (or HK$170 million). The rights issue is fully underwritten by Toman Investments Limited, a company controlled by the controlling shareholders of SIM Technology. The controlling shareholders owned 45.5% of the issued share capital of SIM Technology before completion of the rights issue. Upon completion of the rights issue, the controlling shareholders own approximately 46.2% of the enlarged issued share capital. A whitewash waiver of the obligation of the controlling shareholders to make a mandatory general offer was approved by the independent shareholders and was granted by the Securities and Futures Commission of Hong Kong on 19 November 2012. SIM Technology is the first Hong Kong listed company with depositary receipts listed on the Taiwan Stock Exchange that underwent a rights issue. SIM Technology is an investment holding company listed in Hong Kong. Its subsidiaries include Shanghai Simcom, a leading Chinese mobile handset developer and Shanghai Sunrise Simcom, a leading Chinese wireless communication developer. The Hogan Lovells team was led by Hong Kong-based partner Terence Lau, supported by associate Priscilla Lee, trainee Don Chan and senior paralegal Sunny Sun. ENDS About Hogan Lovells www.hoganlovells.com Hogan Lovells is a leading global law firm providing business-oriented legal advice and high-quality service across its exceptional breadth of practices to clients around the world. "Hogan Lovells" or the "firm" is an international legal practice that includes Hogan Lovells International LLP, Hogan Lovells US LLP and their affiliated businesses. The word "partner" is used to refer to a member of Hogan Lovells International LLP or a partner of Hogan Lovells US LLP, or an employee or consultant with equivalent standing and qualifications, and to a partner, member, employee or consultant in any of their affiliated businesses who has equivalent standing. Where case studies are included, results achieved do not guarantee similar outcomes for other clients. CONTACT Kelsey Lau Marketing Communications Manager, Asia +852 2840 5909 [email protected] Caroline Cheung Senior Business Development Coordinator +852 2840 5685 [email protected] CONTACT: Kelsey Lau Marketing Communications Manager, Asia +852 2840 5909 [email protected] ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected]. |