New investors purchase ICW:s warrants in Josab International AB (JOSA) and exercise them into shares
Interchina Water Treatment Hong Kong Ltd have sold all their warrants in Josab International AB, totally 5.684.444, to two from each other independent investors. The purchase price was 1 SEK per warrant, which corresponds to the original issued purchase price of the warrants. The investors have in connection to the transaction also exercised the warrants at a price of 4 SEK per warrant which has provided Josab 22.737.772 SEK in additional equity.
One of the investors is Prime World Limited, a fully owned subsidiary in the company group of New Concepts Holding company listed on the main board of the Hong Kong Stock exchange (Stock code: 02221). The second largest shareholder of the listed company is Mr Yongjun Zhu, current chairman of Josab International AB and former chairman of the ICW company group. The recently incorporated subsidiary will focus on market development within the environmental sector. Prime World Limited will after this transaction hold 3.184.443 shares (5,8%) in Josab International AB.
The second investor is an investment group led by Mr Stefan Östlundh, a Swedish citizen, who since more than 20 years been living in China and in the recent years been managing large infrastructure development projects around China. The investment group also includes Mr Tomas Askinger, former main shareholder of Josab International AB and current owner of SAFAB which is the exclusive sales agent of Josab for Africa and Middle East and Mr Carl Westermark, co-owner and market development manager of SAFAB. The investment group have purchased the warrants as individuals distributed as follows: Stefan Östlundh (1.250.000), Tomas Askinger (625.000), Carl Westermark (625.000)
”After a period of uncertainties related to the position of the main shareholder ICW in its support of the business development of Josab in China I am happy announce this significant funding from these new investors which firstly will secure the financial capability of Josab, says Zhu Yongjun, chairman Josab International AB. “Secondly this will give Josab the necessary back up to resume the development of the Chinese market, and in addition to that also support the company with an increased know how regarding its international market development”, Zhu Yongjun concludes.
”We believe that our team with its combination of a long history in Josab, ongoing development and strong ties to the African market, long background in the Swedish financial and capital market along with experience from larger infrastructural projects in China and international business including M&A will fill some of the gaps that the current organization has been missing, says Mr Stefan Östlundh, leader of the investment group.
The purchase of the warrants where conditioned to an announcement of an extra shareholders meeting in where changes of the board of the company will be proposed.
Mr Zhu has declared his intention to continue his position as the chairman of Josab also after the fulfilled investment, and he has also informed the board that discussions have been initiated between ICW and the Hong Kong based company regarding the possibility to gradually increase the ownership in Josab International AB.
Stockholm 19th of February 2016
For more information please contact:
Mr Yongjun Zhu Stefan Östlundh
Chairman, Josab International AB Investment group
+86 10 5169 5729 +86 138-0112-6311
yongjunzhu@yahoo.com stefan.oestlundh@gmail.com
About Josab International AB
Josab International AB manufactures and sells ecological water treatment solutions based on, by the company patented, unique filter material Aqualite™. Josab International AB has today five fully owned daughter companies, Josab Hungary Kft, Josab East Africa Ltd, Josab India Pvt Ltd, Josab China Ecological Water Treatment Systems Co Ltd and JOSINT Financial Services AB.