Arcplus Group PLC (SHSE:600629) announced a private placement of A common shares for gross proceeds of up to CNY 280,000,000 on August 8, 2016. The transaction will include participation from not more than 10 specific investors. The transaction has been approved at its 9th special meeting of the 9th directorate and is further subject to be approved at its 1st special shareholders' meeting of 2016, to be held on August 25, 2016.

The transaction has been approved at 6th session of the company's 9th supervisory board. This transaction still needs to be approved by the State-owned Assets Supervision and Administration Commission of Shanghai, and China regulatory Securities Commission. The shares subscribed must not be transferred within 12 months after the issuance date.