Funtalk Update re Going Private (6451H)

TIDMARCH

RNS Number : 6451H

ARC Capital Holdings Limited

01 June 2011

ARC Capital Holdings Limited

1 June 2011

ARC Capital Holdings Limited

Funtalk China Holdings Limited Enters into Definitive Agreement

for "Going-Private" Transaction

ARC Capital Holdings Limited ("ARCH" or the "Company") (AIM: ARCH) is pleased to announce that on 31 May 2011, Funtalk China Holdings Limited ("Funtalk") released an announcement stating that it entered into a definitive agreement with a consortium of Funtalk's majority shareholders (including ARCH) to acquire Funtalk for US$7.20 per share. This announcement follows the 28 March 2011 ARCH announcement which stated that Funtalk's Board of Directors received a non-binding proposal from the consortium to acquire all outstanding ordinary shares in a "going-private" transaction. The agreed transaction values Funtalk's equity at approximately US$433 million on a fully diluted basis, and represents a 35.9% premium over the Funtalk's 30 trading day average price as quoted by NASDAQ on March 24, 2011, the last trading day prior to the announcement on March 25, 2011 that Funtalk had received a "going-private" proposal.

Headquartered in Beijing, Funtalk is a leading China-based retailer and wholesale distributor of wireless communications devices, accessories and content. ARCH originally invested US$90 million in November 2007 into Pypo China Holdings Limited ("Pypo"). Through a series of acquisitions of retail chains, ARCH actively participated in transforming Pypo into a leading retailer in China and rebranded the business as Funtalk upon its listing on the NASDAQ Global Markets in December 2009.

For more information, please contact:

 
 MANAGER:                       LEGAL COUNSEL: 
  Allan Liu, Managing Partner    Jon Lewis, General Counsel 
  c/o ARC Capital Partners       PAG 
  Limited                        15/F, AIA Central 
  15/F, AIA Central              1 Connaught Road 
  1 Connaught Road               Central, Hong Kong 
  Central, Hong Kong             T: (852) 2918 0088 
  T: (852) 2918 0088             F: (852) 2918 0881 
  F: (852) 2918 0881             jlewis@pacific-alliance.com 
  aliu@pacific-alliance.com 
-----------------------------  ----------------------------- 
 BROKER:                        NOMINATED ADVISER: 
  Hiroshi Funaki                 Philip Secrett 
  LCF Edmond de Rothschild       Grant Thornton Corporate 
  Securities                     Finance 
  T: (44) 20 7845 5960           T: (44) 20 7383 5100 
  F: (44) 20 7845 5961           Philip.J.Secrett@gtuk.com 
  funds@lcfr.co.uk 
-----------------------------  ----------------------------- 
 INVESTOR RELATIONS:            MEDIA RELATIONS: 
  Chong Min Yi                   Stephanie Barry 
  PAG                            PAG 
  T: (852) 3719 3319             T: (852) 3719 3375 
  cyi@pacific-alliance.com       sbarry@pacific-alliance.com 
-----------------------------  -----------------------------

About ARC Capital Holdings Limited

ARC Capital Holdings Limited ("ARCH") (AIM: ARCH) is a closed-end investment company with net assets of US$570.0 million as at 30 April 2011. ARCH was admitted to trading on the AIM Market of the London Stock Exchange in June 2006. ARCH makes and holds investments in the retail, consumer goods and consumer services sectors, principally in China but also in neighbouring Asian countries. Target investments include regional hypermarkets and supermarkets, dominant consumer brands, specialty retail chains, retail property assets and retail and consumer service providers.

For more information about ARC Capital Holdings Limited, please visit: www.arch-fund.com

ARC Capital Holdings Limited is a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focussed alternative investment managers, with funds under management across Private Equity, Real Estate and Hedge Funds and Special Situations.

PAG has over 260 staff across offices in Hong Kong, Tokyo, Beijing, Hangzhou, Shanghai, and Tianjin, as well as a presence in Delhi and Seoul.

For more information about PAG, please visit: www.pacific-alliance.com

This information is provided by RNS

The company news service from the London Stock Exchange

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