Renhe Commercial Holdings Company Limited Directors and Staff Exercise Share Options and Increase About 200 Million Shares in Aggregate, Showcasing Their Confidences in Group's Outlook

Renhe Commercial Holdings Company Limited
2009-05-08 15:59 673

HONG KONG, May 8 /PRNewswire-Asia/ -- Renhe Commercial Holdings Company Limited ("Renhe" or the "Group", HKSE stock code: 1387), the operator and developer of underground shopping centers in China, announced today that its directors and staff exercised their respective granted share options, purchased 204 million shares in aggregate at an exercising price of HK$1.34.

Renhe has always been regarding its employees as the most important asset of the Group. As such, the Group was committed to reward its staff for their remarkable performance and great contributions to the Group through a share option scheme during listing. As at 30 April 2009, five executive directors of the Group purchased and hold 195 million shares, increasing the share stake to 0.98% of the Company, at an exercising price of HK$1.34 per share with a total amount of HK$262 million. In addition, some employees of the Group purchased 890 million shares, translating into 0.04% of the issued share capital of the Company, at the same exercising price.

Mr. Dai Yongge, Renhe's Chairman and Chief Executive Office, said, "By exercising the share options, our directors and staff became the shareholders of the Company, showcasing their confidences in Group's outlook. The Group will continue to strengthen its ability to expand the business, laying a solid foundation for a rapid and sustainable growth in future results, with an aim at bringing our shareholders lucrative returns for their unwavering support to us."

Pursuant to the scheme, directors and staff can purchase up to 935 million shares in aggregate from Mrs. Hawken Xiu Li, the Group's major shareholder through share options in different stages, representing approximately 4.68% of the issued share capital of the Group.

About Renhe

Renhe is the operator and developer of underground shopping centers in large and medium cities across China. It currently manages various underground shopping centers in the cities of Harbin in Hei Longjiang Province, Guangzhou in Guangdong Province, Zhengzhou in Henan Province and Shenyang in Liaoning Province etc. In 2009, the Group has been expanding further in Harbin, Shenyang, Tianjin, Nanchang, Wuhan, Guangzhou and Shenzhen. The Group is the constituent stocks of Hang Seng Composite Index, Hang Seng Mainland Composite Index, Hang Seng Composite Industry Index - Properties and Construction, Hang Seng Freefloat Composite Index and Hang Seng Mainland Freefloat Index from 9 March 2009.

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Source: Renhe Commercial Holdings Company Limited