CNinsure To Increase New Share Issue To Employees

(RTTNews) - CNinsure Inc. (CISG) announced that it has obtained approval from the Board of Directors to increase the new share issue to employees from up to 100 million ordinary shares to 150 million ordinary shares, representing about 15% of the company's current total outstanding share capital.

The company said the purchase price for the 100 million ordinary shares is $0.27 per ordinary share or $5.4 per ADS, while that for the additional 50 million ordinary shares is $0.29 per ordinary share or $5.8 per ADS, both of which are the average closing prices for the 20 trading days prior to the board approvals. Completion of the share issuances to the employees is subject to customary closing conditions.