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C.banner Introduces Strategic Investors By Issuing Convertible Bonds

  [20 May 2012, Hong Kong] C.banner International Holdings Limited (“C.BANNER” or the “Company”, together with its subsidiaries, the “Group”, stock code: 1028), the second largest retailer of mid-to-premium women’s formal and casual footwear in China, announced that, on 18 May 2012, the Company entered into the Convertible Bonds Subscription Agreement with CCC, CVC and Mousse with an aggregate principal amount of RMB189,024,450.


In relation to the issue of the Convertible Bonds in an aggregate principal amount of RMB189,024,450, each of CCC, CVC and Mousse severally agrees to subscribe for RMB18,902,445 (representing 9,687,600 Shares), RMB138,617,930 (representing 71,042,400 Shares) and RMB31,504,075 (representing 16,146,000 Shares), respectively, with a term of four years, at an initial Conversion Price of HK$2.40 per Share. The according proceeds are intended to be used by the Company to fund working capital requirements and potential new projects of the Company and its subsidiaries.


CCC is under the management of China Consumer Capital Partners Ltd.. China Consumer Capital Partners Ltd. is a China-focused investment firm focusing on China consumer/retail industry investments. China Consumer Capital Partners Ltd. has extensive domestic and international industry resources and investment experience with strength in bringing strategic value to target companies.


CVC is currently owned by the funds advised by CVC Asia Pacific Limited, a company incorporated in Hong Kong. CVC Capital Partners is a leading international private equity firm. Founded in 1981, CVC Capital Partners today has a network of 20 offices and some 250 employees throughout Europe, Asia and the US. CVC Capital Partners manages funds on behalf of over 300 investors including pension funds, financial institutions, sovereign wealth funds and other investors. To date, CVC Capital Partners has raised over US$44 billion in funds and has completed over 290 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of US$167 billion. CVC Capital Partners Funds currently own over 60 companies worldwide, which generate over US$127 billion in revenues and employ around 400,000 people.


Mousse is a private company managed by Mousse Partners, a New-York based private investment firm. In 2008, Mousse Partners established a Beijing office, and has been actively investing in Chinese consumer growth companies.


Mr. Chen Yixi, Chairman of C.BANNER said, “We are delighted to have CCC, CVC and Mousse joining us as strategic Investors and partners by the convertible bonds issued by the Company, reflecting their confidence in the direction and strategies of Cbanner. We are of the view that the new funding together with CCC, CVC and Mousse’s experience in branding, retailing and products would allow more room for the Company to carry out its development strategies and tap its growth potential in the future. CCC, CVC and Mousse have extensive experience in investing in the apparels and retail industry around the world. After becoming strategic partners of the Company, they will introduce more resources to support the business development strategies and executions of the Company. In addition to introducing international branding and nominating quality members to the Company, they will facilitate and enhance the Company’s corporate governance, thus improving organisation structure and operation transparency to the Company.”