Hydoo Issued The Convertible Notes In Principal Amount Of US$120,000,000
Appointed Mr.Wang Wei As Non-Executive Director And Mr.Wang Dewen As Executive Director
CLOSING OF THE ISSUE OF 7.00% CONVERTIBLE NOTES
The Board of Hydoo International Holding Limited (“HYDOO” or the “Company”) today announced thatall conditions to the issuance of the Notes as set out in the Purchase Agreement have been met and the Company has issued the Notes to the Investor on January 23, 2015. The gross and net proceeds (after deducting expenses) from the Notes Issue are US$120,000,000 and approximately US$119,330,000, respectively.
APPOINTMENT OF MR.WANG WEI AS INVESTOR DIRECTOR
In accordance with the Purchase Agreement, Mr. Wang Wei was nominated by the Investor as the Investor Director. Mr. Wang Wei’s nomination has been reviewed and recommended by the nomination committee of the Company and approved by the Board and he was appointed as a non-executive Director of the Company with effect from January 23, 2015.
Mr. Wang Wei’s biography
Mr. Wang Wei, aged 46, has over 20 years’ experience in international capital markets. Since early 2013, Mr. Wang Wei has been the managing director and general manager of Ping An Real Estate Fund Management (平安不動產股權投資管理有限公司). From late 2009 to early 2013, Mr. Wang Wei was the managing director and China country head of Forum Partners Investment Management, a US-based real estate private equity fund specialized in entity level structured investment. From 2008 to 2009, Mr. Wang Wei was the vice president and chief financial officer of Sunshine 100 China, a commercial and residential real estate developer in China listed on the main board of The Stock Exchange of Hong Kong (the “Stock Exchange”) (stock code: 2608). From 2005 to 2007, Mr. Wang Wei was managing director and co-head of China Fixed Income with UBS Group. He was also member of the Group’s China management committee. From 1994 to 2005, Mr. Wang Wei spent 10 years in the fixed income and equity capital market divisions at JP Morgan in New York, Singapore and Hong Kong. From 1991 to 1994, Mr. Wang Wei worked in the debt capital market and derivatives team with the treasury department of the Bank of China, Head Office.
In September 2014, Mr. Wang Wei was appointed non-executive director of Wuzhou International Holdings Limited, a developer and operator of trade and logistics centres in China listed on the main board of the Stock Exchange (stock code: 1369).
Mr. Wang Wei graduated from Columbia Business School with a MBA degree in 2002, and from the global economics department of Fudan University with a bachelor’s degree in economics in 1991.
APPOINTMENT OF MR. WANG DEWEN AS NEW EXECUTIVE DIRECTOR
The Board of HYDOO also announced thatMr. Wang Dewen, the Company’s current chief executive officer, has been appointed as an executive Director of the Company with effect from January 26, 2015.
Mr. Wang Dewen’s biography
Mr. Wang Dewen, aged 35, was appointed as the chief executive officer of the Company on May 13, 2014. Mr. Wang Dewenhas overfive years of experience in large scale tradecenter development and operation. From October 2009 to December 2012, Mr. WangDewenserved as the president of China South City Xi’an Company Limited (西安華南城有限公司), a subsidiary of China South City Holdings Limited, a company listed on the main board of the Stock Exchange (stock code: 1668). In this role, he wasprimarily responsible for project management and operation. From January 2008 toOctober 2009, he served as the chairman and general manager of Jingdezhen HowardCommercial and Trade Center Development Company Limited (景德鎮豪德貿易廣場開發有限公司) and was primarily responsible for project management and operation. He also served as the general manager of Shenzhen Howard Investment Co., Ltd. (深圳市豪德投資有限公司) from July 2006 to October 2009 and was primarily responsible for the company’s management and operation.Prior to that, he served as the project manager of the investment banking department of China Great Wall Securities Company Limited (長城證券有限責任公司) from August 2004 to May 2005 and the analyst of research department of Guosen Securities Co., Ltd. (國信證券股份有限公司) from September 2003 and August 2004.