Sale of China Security & Surveillance Technology (8969E)
April 14 2011 - 1:00AM
UK Regulatory
TIDMVOC
RNS Number : 8969E
Vision Opportunity China Fund Ltd
14 April 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR
JAPAN
14 April 2011
Vision Opportunity China Fund Limited
(the "Company" or "VOC")
Sale of China Security & Surveillance Technology Inc.
Vision Opportunity China Fund Limited (AIM: VOC.L) today reports
that it has sold all shares of common stock held by it in China
Security & Surveillance Technology, Inc. (NYSE:CSR) through a
series of on-market transactions. CSR is a one-stop solutions
provider and consolidator in China's fast growing security and
surveillance industry.
The shares of common stock were previously acquired on 27 May
2010 for $8.0 million, or $4.00 per share, as part of a $60.0
million underwritten secondary public offering. No dividends were
paid on the shares during VOC's ownership. The total sale proceeds
of approximately $10.2 million in cash, or at an average price of
$5.10 per share, resulted in a realised gain of $2.2 million. It is
expected that the net proceeds will be held in cash or invested in
near cash investments in the short term.
For further information, please contact:
Vision Opportunity China Fund Limited Tel: +1 (212) 849 8225
David Benway / Adam Benowitz
Canaccord Genuity Limited Tel: +44 (0)20 7050 6500
Guy Blakeney / Sue Inglis
Financial Dynamics Tel: +44 (0)20 7269 7132
Ed Gascoigne-Pees / Ed Berry
NOTE TO EDITORS
Vision Opportunity China Fund Limited is a closed-ended fund
traded on AIM. VOC primarily invests directly in listed companies
with operations principally within Greater China.
Greater China is a collective term for the territories
administered by the People's Republic of China, those administered
by the Republic of China and Singapore.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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