What Is an Extraordinary Income?

Viva China Holdings Limited is principally engaged in the trading of health care products; manufacturing, marketing and installation of patented energy-saving air-conditioning systems and water heater equipment. In addition, the Group is also engaged in sports related fields with green elements to enhance the quality of life in China. On October 12, 2012, Victory Mind and Dragon City, two major shareholders of Li Ning Company, entered into a sale and purchase agreement with Viva China Holdings Co., Ltd. to sell 266 million company shares to Viva China, accounting for approximately 25.23% of the company's issued share capital.

Viva China Holdings Limited

Viva China Holdings Limited is principally engaged in the trading of health care products; manufacturing, marketing and installation of patented energy-saving air-conditioning systems and water heater equipment. In addition, the Group is also engaged in sports related fields with green elements to enhance the quality of life in China. On October 12, 2012,

The purpose of Viva China Holdings Limited is to become China's premier and most dynamic sports and green enterprise. Our goal is to raise the standards and values of the domestic sports industry and connect different parts of the sports value chain.

Li Ning Company, which suspended trading on October 15, 2012, revealed the mystery on the 17th. Extraordinary China Holdings Co., Ltd. announced the acquisition of 25.23% equity of Li Ning Company with a transaction value of HK $ 1.359 billion.

Viva China plans to purchase a total of approximately 25.23% of its equity interest in Li Ning Company from its associates Li Ning and its associates, and proposes a five-in-one share plan and an increase in the statutory equity plan. ^[2]

Viva China will pay in two ways: One is through the issuance of 1.78 billion consideration shares after the completion of the "Five in One" at a price of HK $ 0.325 per share (until the completion of the Five in One, the price per share is 0.065 Hong Kong dollars). The second is to pay through the issuance of permanent subordinated convertible bonds with a total principal of 780 million Hong Kong dollars. The initial conversion price is also calculated at HK $ 0.325 per share after the "five in one". These convertible securities will not be listed on Hong Kong or other exchanges.

It is expected that after the transaction is completed, Mr. Li Ning and his family will increase their current holdings of 55.88% extraordinary China to approximately 70%, but the conversion of permanent subordinated convertible bonds will be limited to maintaining compliance with 25% Legal requirements for public float. In support of the issue of consideration shares and convertible bonds, the Group also proposed to add 11 billion new consolidated shares to the authorized share capital, increasing the authorized share capital from HK $ 510 million to HK $ 1.06 billion.

Relevant acquisitions, five-in-one shares and an increase in statutory equity plan will be subject to approval by the EGM. The transaction is expected to be completed no later than December 31, 2012.

Li Ning previously announced that it has officially signed a contract with the famous NBA star Dwyane Tyrone Wade. The company suspended trading on Monday. The stock price closed at HK $ 4.83 before the suspension, a new high in three months. Li Ning will resume trading at 9 am today.

Extraordinary China's suspension of trading since Thursday began, and the stock price was reported at HK $ 0.065 before the suspension. Li Ning plans to enter the real estate market through the acquisition of extraordinary China, which owns real estate in Shenyang, but was rejected by the Hong Kong Stock Exchange as a counter-acquisition. ^[3]