21 January 2008 PUBLICATION OF AIM ADMISSION DOCUMENT China Eastsea Business Software Limited ("China Eastsea", the "Company" or the "Group")
Further to the announcement on 8 January, China Eastsea Business Software Ltd, which provides information technology and business process outsourcing services, published an AIM Admission Document on Friday 18 January and applied for its ordinary shares of 5p each to be admitted to trading on AIM.
Copies of the Admission Document are available on the Company's website www.sinobpo.com and, during normal business hours from the offices of Evolution Securities Limited, 100 Wood Street, London EC2V 7AN. It is anticipated that trading in the Company's Ordinary Shares will commence on AIM on 24 January 2008.
In the Admission Document the Company provided the following update on current trading and prospects:
"Since the end of the 6 months to 31 August 2007 ¢¬¦ the business of the Group
has continued to trade in line with the Directors' expectations and the
Directors expect to report turnover that is significantly higher in the year
ending 28 February 2008 than the year ended 28 February 2007. The Group
continues to look to expand its business in to new areas and has been making
the necessary investment in personnel to achieve this. In addition to this, the
Directors continue to assess various acquisition opportunities including that
of Shanghai Time Technology Development Limited, which was referred to in the
interim results announced on 30 November 2007. Based on the Group's current
trading and strategic opportunities, the Directors remain confident about the
prospects of the Group."
Contacts:
China Eastsea Evolution SecuritiesLtd Parkgreen Communications Ltd
David Tsui, Financial Stuart Andrews Paul McManus
Director/CFO
Tel: +86 574 2880 2289 Tel: 020 7071 4300 Tel: 020 7479 7933
Mob: +86 138 1668 5470
About China Eastsea Business Software Limited
China Eastsea Business Software Limited and its subsidiaries provide information technology and business process outsourcing services (ITO/BPO), IT consulting and a broad range of project work to clients in the petrochemical, petroleum, power and telecommunications industries, as well as to ministries, state authorities, municipalities, agencies and other organisations throughout the government sector in China.
The services provided by the Group include strategic planning, gap analysis, alignment, business and technology transformation, performance management and technology selection and optimisation according to best practices. The Group offers design, development, implementation, control and maintenance relating to the use, creation, installation or integration of software, hardware, networks, systems and technologies. It also provides total ERP solutions from design to development, implementation, training and maintenance.
The Group has proprietary technology on a management platform provided over internet, intranet and corporate portals, as well as on information integration. The Group has successfully leveraged its expertise in search engines and information management to build customized products to grow its government and telecommunications IT outsourcing market share.