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China Sci-Tech Holdings completes US$244 million acquisition of Chariot Resources

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China Sci-Tech Holdings Limited

On June 10, 2010, China Sci-Tech Holdings Limited (SEHK: 985) completed its previously announced acquisition of Chariot Resources Limited pursuant to a plan of arrangement. China Sci-Tech acquired through an indirect, wholly owned subsidiary, all of the issued and outstanding common shares of Chariot at a price of $0.67 in cash per common share, for a total consideration of approximately $244 million. China Sci-Tech was advised in this transaction by Fasken Martineau with a team that included Richard Steinberg, Aaron Atkinson, Krisztian Toth and Amanda Fullerton (corporate/securities), Mitchell Thaw (tax) and Huy Do (competition).



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