Good Life China (GLCC) Identifies Shanghai IPO Merger Candidate
Date : 06/25/2008 @ 6:15AM
Source : PR Newswire
Stock : (GLCC)
Quote : 0.023 -0.0071 (-23.59%) @ 3:59PM
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Good Life China (GLCC) Identifies Shanghai IPO Merger Candidate
BEIJING, June 25 /PRNewswire-FirstCall/ -- http://www.goodlifechina.com/ (PINKSHEETS: GLCC) is pleased to identify Runtian Spring Water Ltd. (Runtian) http://www.runtian.cn/, as a possible company of interest to the issuer. Runtian is a China mainland based company. Mr Yang GLCC spokesperson said, "Runtian was introduced to us by our IR Company Mina Mar Group, as one candidate to explore a possible merger or a buyout with Good Life China. Just to be clear, we still have the European Publicly traded company that continues to express continued interest. Runtian comes to us as a complete surprise. It is our understanding that Runtian began their initial public offering process (IPO) in Shanghai China, which adds a new twist of dynamics, and various possible options both companies will now have at their disposal.
We understand that Runtian is a mineral water packager/distributor. The company has a capitalization of 200 million Yuan, about 30 million USD, revenues of 2.5 billion Yuan or about $400 million dollars. The company maintains operations in 21 of the 28 Provinces of China, with 1600 authorized distributors and 26 branch offices. Here in China they are a familiar brand name."
Mr Garr Winters the issuer's secretary, and its strategic corporate advisor said: "My understanding is that Mina Mar Group is positioning this to have either the European company or Runtian do some sort of a consolidated mega merger into GLCC. The way it was presented to me, and the way I understand it, immediately thereafter GLCC would do an asset split off into one of their currently available OTCBB bulletin board companies. This would result in a form of a onetime special dividend payable to all of the common shareholders of GLCC. Some assets would stay in GLCC and some in the OTCBB Company.
It is my understanding that by doing this extra step the benefits are three fold. Firstly, the dividends issued would force any short position to cover. Secondly the common shareholders would receive or retain both their existing GLCC stock plus they would get additional free trading shares in the OTCBB Company. Lastly, it is common knowledge in the industry, and from my personal previous experience in dealing with them, that this IR Company is pro common shareholder and encourages its clients to issue dividends to its common shareholders. Stock traders, and traders, that regularly short stocks are obviously irked by them, and rightfully so. As a secretary, and the issuers strategic corporate advisor I endorse the proposal as it was presented to me. The final decision rests with the management, and the board members of GLCC in Beijing who are awaiting their arrival, their presentation and recommendations."
The common shares of the Company are currently dually listed in the USA Pink Sheets (symbol GLCC.PK) and the Frankfurt Stock Exchange (Xe:L9X). The issuer is in good standings with Pink Sheets and ranked as a "Current Information" filer with its security.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
CONTACT http://www.minamargroup.com/helpdesk
DATASOURCE: Good Life China Corporation
CONTACT: http://www.minamargroup.com/helpdesk |
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