Apt Medical Subsidiary of Huatai Medical Invests RMB 7.57 Million to Subscribe to RKT Med's New Shares to Maintain Equity Stake

Source: CapitalBang

On February 9, Capital Bond learned that APT Medical (688617.SH), a company listed on the STAR Market, issued an announcement stating that the Company held the Tenth Meeting of the First Board of Directors and the Eighth Meeting of the First Supervisory Committee on February 8, 2021. The meetings reviewed and approved the “Proposal on the Company’s Joint Investment with Related Parties and Partial Waiver of Pre-emptive Rights Constituting a Related-Party Transaction.” The proposal approved the subscription by the Company’s wholly-owned subsidiary, APT Medical Inc., of RMB 553,100 in registered capital of Hunan RECAN Technology Development Co., Ltd. for a consideration of RMB 7.5727 million, and the simultaneous waiver of the pre-emptive rights to subscribe for the additional registered capital of Hunan RECAN Technology Development Co., Ltd. proposed to be subscribed by Nantong Huikang.

RECAN proposes to increase its registered capital by RMB 1.7895 million, with Nantong Huikang and APT Medical subscribing for RMB 16.927 million and RMB 7.5727 million respectively, corresponding to RMB 1.2364 million and RMB 0.5531 million of the newly added registered capital. Upon completion of the capital increase, Nantong Huikang and APT Medical will hold 11.28% and 30.91% equity interests in RECAN, respectively. Following the completion of this transaction, the Company’s shareholding percentage in RECAN remains unchanged, and the Company continues to hold a 30.91% equity interest in RECAN through its wholly-owned subsidiary, APT Medical.

APT Medical stated that its decision to waive part of its preemptive subscription rights was based on the Company’s current actual financial situation and considerations for controlling investment risks. Meanwhile, as a significant shareholder of Hunan RECAN Technology Development Co., Ltd., the Company carried out a partial capital increase to avoid further dilution of its equity interest and ensure the stability of its shareholding ratio in Hunan RECAN Technology Development Co., Ltd.

The Company’s partial waiver of its preemptive subscription rights complies with relevant laws and regulations, supports the Company’s long-term strategic focus on the neurointerventional medical device sector, will not result in any change to the scope of its consolidated financial statements, will not have an adverse impact on the Company’s financial position or operational performance, does not involve any impairment of the interests of the Company and all shareholders, and has not affected the Company’s independence.

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