Lifetech Intends to Purchase no more than 300,000,000 Shares for Staff Award Pursuant to Share Award Scheme

On December 28, 2018, the leading minimally invasive cardiovascular interventional devices supplier — LifeTech Scientific Corporation ("Lifetech", stock code: 1302.HK) (the Company) announced that it had entered into the Agreement with the wholly-owned subsidiary of China Everbright Limited ("Everbright", stock code: 165.HK) (the Vendor), agreed to purchase, with funding to be provided by the Company, and the Vendor conditionally agreed to sell, an aggregate of not more than 300,000,000 shares, for the purpose of the Share Award Scheme. The transaction is subject to approval by the Lifetech Special Shareholders' Meeting. If the transaction is completed, representing the Trustee holds approximately 6.92% of the issued share capital of the Company and is the largest stockholder of the Company if counted on the shareholding ratio of Mr. Xie Yuehui, Board Chairman and CEO of Lifetech as at the date of this announcement.

 

Mr. Xie Yuehui said, "I'd like to thank China Everbright for its trust and support to the Lifetech team. The arrangement of staff award will help fully mobilize the enthusiasm of the core team and help enhance the Company's cohesiveness and competitiveness. After we complete the increase this time, we'll better plan the Company's long-term development, enhance its value and give back to the shareholders."

 

Fu Feng, Head of China Everbright Medical Health Fund, said, "Mr. Xie Yuehui and Lifetech's employees have contributed a lot to the Company's business and product development in the past several years. China Everbright hopes to further promote the long-term stability of the Company's shareholding structure, and more closely bind the long-term interests of the team to the Company's interests by supporting the founding shareholders and core team of Lifetech to increase the Company's shareholding, so as to better serve the goal of maximizing shareholders' interests. In the future, Everbright will continue to support the Company to develop and introduce other investors who have long-term optimism about the Company's business."

 

Lifetech attaches great importance to talents, firmly believes that the progress of enterprise is inseparable from the construction of talents, and is willing to share with and reward for talents, and continue to attract talents to grow together, develop together and achieve common achievements. In the future, the Company will create a wider development platform for employees, and jointly promote the Company to a higher development level, and in the process to bring long-term investment returns to the majority of shareholders, creating greater value for human health.