On December 7, 2010, Shitian Holdings planned to issue new securities to acquire the target company of the controlling shareholder who is engaged in cigarette packaging design and printing business.
Shitian Holdings (01008) announced that the company is currently considering and negotiating the possible acquisition of new securities to acquire the target company wholly owned by the controlling shareholder in the cigarette packaging design and printing business in Mainland China.
Shi Tian pointed out that the possible transaction may also involve the controlling shareholder reducing the company's certain new securities to maintain the company's sufficient public float. At present, the company has not entered into any legally binding agreement or contract or clause regarding possible transactions.