June 28, 2017 10:47 PM ET

Pharmaceuticals

Company Overview of Taihua Plc

Company Overview

Taihua plc, an investment holding company, develops, manufactures, distributes, and sells traditional Chinese medicine (TCM) products and active pharmaceutical ingredients (APIs) in the People’s Republic of China. The company operates in four segments: Paclitaxel, Homoharringtonine, TCM Products, and Forsythia. Its APIs products include paclitaxel, which is extracted from the bark of the yew tree for the treatment of ovaries, breast, lungs, skin, and mucous membranes cancer; and Homoharringtonine, an alkaloid extracted from branches and leaves of the cephalotaxus tree for the treatment of acute myeloid leukaemia and other cancers. The company also offers TCM products, including gengnianan ta...

No. 16 Zhong Hua

Room 201, Unit 3

ShiJiCheng, FuZeYuan

239 KeJi Road, Hi-tech Zone

Xi'an,  710077

China

55 Employees

Phone:

86 29 8832 6501

Fax:

86 29 8832 6502

Key Executives for Taihua Plc

Chief Executive Officer and Director
Age: 59
Executive Director
Age: 47
Executive Director
Age: 33
Secretary and Non Executive Director
Age: 45
Vice General Manager and Executive Director
Age: 66
Compensation as of Fiscal Year 2016.

Taihua Plc Key Developments

Taihua plc To Be Cancelled Its Trading On AIM

Taihua plc announced that at its General Meeting held on April 21, 2017, all resolutions were duly approved. Accordingly, as set out in the announcement dated April 5, 2017 the company's Admission to trading on AIM will be cancelled with effect from 7am on May 8, 2017.

Taihua Plc, Annual General Meeting, Apr 21, 2017

Taihua Plc, Annual General Meeting, Apr 21, 2017, at 11:00 Coordinated Universal Time.

Taihua plc Proposes Cancellation Of Admission Of Ordinary Shares To Trading On AIM

Taihua plc announced that it will be sending a Circular to Shareholders together with a notice convening a General Meeting to be held on 21 April 2017to seek Shareholder's approval to cancel the admission of the Company's Ordinary Shares to trading on AIM and re-register the Company as a private limited company. The Directors have undertaken a review of the merits or otherwise of the Company continuing to be admitted to trading on AIM. The Directors have concluded that a proposal to cancel the Admission should be made to Shareholders at the General Meeting. In reaching the decision to propose this to Shareholders, the Directors have taken the following factors into account: The primary purpose of the Company's Admission was the opportunity it provided to raise capital in support of the Company's growth prospects. Given current market conditions, and in particular the lack of investors for the Company's businesses, the Directors are of the opinion that it is difficult for the Company to attract any or meaningful equity investment through its status as a quoted company on AIM and accordingly the Directors will be assessing potential alternatives to raise growth capital. There are significant professional fees associated with the Admission. In the Board's opinion the costs of Admission outweigh any benefits that currently accrue to the Company or its Shareholders and the Admission should therefore be cancelled as it is no longer in the best interests of the Shareholders as a whole. Once the Company has ceased to be listed on AIM, it would be easier to operate as a private limited company than as a public limited company and it is therefore also proposed that the Company should re-register as a private limited company. This will save a small amount of money on annual running costs and will also allow future corporate actions to be undertaken in a more straight forward and cost effective manner due to the more flexible regime which applies to private companies under the Companies Act.

Recent Private Companies Transactions

Type
Date
Target
Buyback
February 6, 2017
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