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Sunwah International Ltd
Symbol SWH
Shares Issued 93,139,927
Close 2014-09-04 C$ 0.10
Market Cap C$ 9,313,993
Recent Sedar Documents

Sunwah extends, amends $1.5-million debenture

2014-09-23 12:19 ET - News Release

Mr. Michael Choi reports

SUNWAH INTERNATIONAL LIMITED SHAREHOLDER UPDATES SHAREHOLDING INFORMATION

The terms of the debenture of Sunwah International Ltd. for a principal amount of $1.5-million beneficially owned or controlled by Michael Koon Ming Choi of Hong Kong, China, was amended on Sept. 19, 2014, to extend its maturity date to Sept. 19, 2015, and to remove all conversion and redemption features. As of Sept. 19, 2014, the debenture beneficially owned or controlled by Mr. Choi, and the debenture beneficially owned or controlled by his joint actor, Dr. Jonathan Koon Shum Choi, are not convertible, directly or indirectly, into equity or voting securities of the corporation or a subsidiary entity of the corporation, or otherwise participating in nature. Dr. Choi remains the largest controlling shareholder of the corporation, and there has been no material effect on the control of the corporation.

As at Sept. 19, 2014, Mr. Choi beneficially owns or controls, directly or indirectly, 118,937 common shares of the corporation, representing approximately 0.13 per cent of the total issued and outstanding common shares of the corporation. The total issued and outstanding common shares of the corporation is based on 93,139,927.

Dr. Choi may be considered a joint actor of Mr. Choi. Dr. Choi is related to Mr. Choi and is a director of the corporation. As at Sept. 19, 2014, Dr. Choi beneficially owns or controls, directly and indirectly, an aggregate of 61,697,310 common shares of the corporation, representing approximately 66.2 per cent of the total issued shares of the corporation. As at Sept. 19, 2014, Mr. Choi and Dr. Choi beneficially own or control, directly and indirectly, an aggregate of 61,816,247 common shares of the corporation, representing approximately 66.4 per cent of the total issued shares of the corporation.

Mr. Choi holds the common shares in the corporation for investment purposes. In pursuing such purposes, Mr. Choi takes a long-term view of the investment. Mr. Choi reserves the right to formulate other plans or make other proposals, and take such actions with respect to the investment in the corporation. Mr. Choi may at any time reconsider and change his plans or proposals relating to the foregoing. He reserves the right to develop plans or proposals to acquire ownership of, or control over, additional shares in the corporation in the near or long term.

This press release is issued pursuant to National Instrument 62-103 -- Early Warning System and Related Take-Over Bid and Insider Reporting Issues -- which also requires a report to be filed with regulatory authorities in each of the jurisdictions, containing additional information with respect to the foregoing matters. A copy of the early warning report will appear with the corporation's documents on SEDAR. A copy of the early warning report may also be obtained by contacting Joey Koh at 852-2538-3966.

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