SOURCE: Xiao Nan Guo Restaurants Holdings Limited
HONG KONG--(Marketwire - Sep 26, 2012) - Xiao Nan Guo Restaurants Holdings Limited ("Xiao Nan Guo" or "the Company,") (HKSE: 3666) is pleased to announce that Ms. Wang Huimin ("Ms. Wang"), the Chairlady, executive director and the controlling shareholder of the Company, has purchased an aggregate of 500,000 shares ("Shares") of the Company at an average price of HK$1.2194 per share from Value Boost Limited, a company wholly-owned by Ms. Wang, representing approximately 0.034% of the issued share capital of the Company. Immediately upon completion of the aforesaid Share repurchase, Ms. Wang is beneficially interested in 510,351,000 Shares, representing approximately 34.6% of the issued share capital of the Company and thereby controls 54.897% of the voting rights of the Company.
Ms. Wang intends to further increase her shareholdings in the Company, whereby the total number of shares repurchase will not exceed five million shares (inclusive of the Shares acquired this time), via the trading system of the Hong Kong Stock Exchange, and to be executed on or before 31 December, 2012.
Commenting on the repurchase action, Ms. Wang Huimin, Chairlady of Xiao Nan Guo said, "As founder and controlling shareholder of the Company, I remain committed to and confident of Xiao Nan Guo's long-term prospect and success." Ms. Wang continued, "The interim results of Xiao Nan Guo that have been recently released have been very encouraging, given the double-digit growth in its top- and bottom-line results. We have a proven track record of success for over 25 years, despite the current macro economic conditions, we remain upbeat and committed to the restaurant and catering sector in China."
About Xiao Nan Guo Restaurants Holdings Limited
Xiao Nan Guo Restaurants Holdings Limited ("Xiao Nan Guo" or the "Company") was founded in 1987 and its shares were publicly listed on the Main Board of the Hong Kong Stock Exchange on July 4, 2012. According to Euromonitor International, an independent market research firm, Xiao Nan Guo is the largest self-owned mid- to high-end Chinese cuisine full-service restaurant chain headquartered in the PRC, based on number of self-owned restaurants in Greater China as of December 31, 2011. As of August 25, 2012, the Company operates 6 central kitchens and 5 central warehouses, servicing a restaurant network of 60 Shanghai Xiao Nan Guo restaurants, 3 Maison De L'Hui restaurants and two "The Dining Room" restaurant, which covers some of the most affluent and fastest-growing cities in Greater China, including Shanghai, Beijing, Dalian, Suzhou, Nanjing, Tianjin, Ningbo, Wuxi, Shenzhen and Hong Kong.