omniture

Inspur International Limited Announced Entering into the Supplemental Deed with Microsoft to Issue the Scrip Dividend Preferred Shares

2009-09-25 15:56 1083


HONG KONG, Sept. 25 /PRNewswire-Asia-FirstCall/ -- Inspur International Limited ("Inspur International")(SEHK: 596) announces today that it entered into the supplemental deed with Microsoft, the strategic shareholder, to vary the terms of preferred shares. Pursuant to the subscription deed that entered into between Inspur International and Microsoft dated 26 August 2005, Inspur International issued to Microsoft an aggregate of 234,279,559 preferred shares at an aggregate principal amount of US$25 million (equivalent to approximately HK$195 million). Microsoft is entitled to receive the dividend at the rate of 6% per annum on the aggregate principal amount of preferred shares, and such dividend was agreed to be paid and satisfied wholly by cash. Pursuant to the above supplemental deed, both parties agreed that for the period commencing from 1 October 2009 and ending 30 September 2011, the dividend at the rate of 6% per annum which shall be paid by Inspur International, will be settled in (1) 2% by cash; and (2) 4% by the allotment and issue to Microsoft of further preferred shares. The Scrip Dividend Preferred Shares Issue Price is determined to be equal to 100% of the average closing price of Shares as shown on the daily quotation sheet of the Stock Exchange for the 10 consecutive trading days immediately prior to such dividend payment date.

Mr. Sun Pishu, Chairman of Inspur International said, "We are glad that subsequent to the signing of mutual lock-up agreement between Microsoft and our parent company, Inspur Group this May, we have entered another supplemental deed with Microsoft. The amendment of the terms of Preferred Shares will further increase Microsoft's stake in Preferred Share of Inspur International, which is a vote of confidence in Inspur International's business development. Leveraging on this mutual cooperation, the Group will work closely with Microsoft for business expansion and delivering long-term value to our shareholders."

About Inspur International Limited (HKEX: 596)

Inspur International is a leading domestic integrated IT services supplier principally engaged in solution provision with competitive edges in ERP, taxation, telecom, finance, E-government, software outsourcing, etc. Inspur International has strong capability in these areas and achieves high ranking among its peers. Through the support of its parent company, Inspur Group, and Microsoft Corporation, the strategic investor, Inspur International strives to enhance its value-added IT services and expands in both domestic and international market. Inspur International transferred its listing to the Main Board of HKEX on 29 August 2008.

Source: Inspur Group Co.,Ltd
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