Monday, July 20, 2009

BVI-based company Megaway International Holdings finalizes reverse merger

BTHC VIII, a total solution provider of heat exchangers in China, announced the closing of a share exchange transaction with the shareholder of the British Virgin Islands corporation Megaway International Holdings.

In the share exchange transaction, BVI company's shareholder was issued 14,800,000 shares of common stock of BTHC VIII, which makes approximately 92.5 percent of the total issued and outstanding capital stock of the company, in exchange for 100 per cent of the issued and outstanding shares of Megaway. As a result of the deal, Megaway has become a wholly-owned subsidiary of the company.

Upon the closing of the share exchange, BTHC's executive officers were replaced by the executive officers of the BVI registered Megaway and its subsidiaries. The company plans to change its name to THT Heat Transfer Technology.