UT to introduce strategic investment "blood transfusion"

Nanfang Daily News (reporter/Hu Wei) into a huge loss of UT Tatsu Kang finally get "blood transfusion." Last week, UT and Beijing also Zhuang International Development Investment Co., Ltd. reached a collegial, the latter and the other two independent investment institutions to the UT Tatsu investment 48.5 million U.S. dollars.　　At the same time, UT will issue about 22 million common shares at a price of $2.2 per share in exchange for three-party investment. Yellowstone Capital will be responsible for providing consultancy services to the tripartite investors.　　Once the transaction is completed, the former deputy chief engineer of the State Administration of Radio, film and television, Du Baixuan, deputy general manager of Beijing also Zhuang International Development Investment Co., Lee and the managing director of Huangshi Capital, Huangshao will enter UT's board of directors and the total number of board members will increase from six to seven.　　According to the transaction and UT's strategic development objectives in China, Loux has been appointed as chief operating officer of the company and is the CEO and CEO of the company 3 months after the date of completion of the transaction (or June 30, 2010). According to the plan announced earlier and the agreement with Beijing Development Zone (under the Beijing Municipal government), UT Kangda will relocate the company headquarters to Beijing. The company plans to retain all its business in Hangzhou and Shenzhen.