Mainland Headwear to increase stake in two US companies

Mainland Headwear (1100) announced to take over 8.33% and 14.29% shareholding of Drew Pearson International(DPI) and Drew Pearson Marketing(DPM) from Bradley Peterson at total cost of US$830000. Mainland Headwear will pay by issuing 4.488mln shares at HK$1.4425 each, which account for 1.87% of issued share capital and 1.83% of enlarged share capital. After transaction, shareholding of controlling shareholder will be diluted from 75% to 73.62%. Mainland Headwear (1100) holds approximately 25% and 28.57% stake in DPI and DPM at present. After transaction shareholding will be increased to 33.33% and 42.86% respectively.

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