Asiapac Capital Services Inc.
AsiaPac Capital Services Enters Discussions to Sell Minority Interest in Company
Asiapac Capital Services Inc. / Acquisition 16.02.2010 08:30 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Toronto, Canada - (For immediate release) - February 16, 2010 08:30 CET AsiaPac Capital Services Ltd.,: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), announced today that Interline China, an investment company based in Shanghai, China with partners from Fujian (China) State Intl Corp.; Sichuan Longxin Investment Co.; and Hong Kong based Hillford Co. Ltd.; is considering acquiring a 40% stake in Asiapac Capital Services. Interline investments are focus mainly on mining and power generation assets, and is interested in taking an active position in the Company's Renewable Energy projects as well as its mining properties. The transaction is initially being priced at EUR4.50 per share, a significant premium above its last traded price. With total current outstanding common stock of approximately 6.9 million shares, the investment represents the sale of an additional 4.6 million shares from treasury. Total proceeds are anticipated of EUR20.7 million, or just over $28 million USD. The Parties anticipate announcing a more definitive Letter of Intent within the next week to ten days. Interline assets as at the end 2009 are estimated to be close to $100 million USD. Company President, Mr. Samuel Lee, noted; 'Our projects are based in the Philippines, which offer many attractive elements for Interline. With a stable political climate, year-round mining capabilities, and a broad array of government incentives for foreign owned investment, particularly in the renewable energy and mining sectors, AsiaPac is well-positioned to launch a number of business projects that have been very favorably reviewed by Interline. We have an excellent network of business partners, professionals and a strong pipeline of potential projects already in place.' The Company will be releasing further information as based on additional developments in this area. Disclaimer & Safe Harbor Statement: This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. 'Safe Harbor' Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains certain 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995. Copyright (c) 2010 Asiapac Capital Inc. All rights reserved. For further information please contact: AsiaPac Capital Services Ltd. 557A Eglinton Ave West, Toronto, Canada M5N 1B5 Phone: 1-416-800-2080 Email: info@asiapaccapital.ca 16.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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