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Mascotte Holdings Ltd announces disposal of subsidiary

Monday, 16 Jun 2014 09:40am EDT 

Mascotte Holdings Ltd:Announce that on June 16, vendors entered into a sale and purchase shares agreement (SPSA) with an individual (Purchaser) in relation to the disposal of the entire issued share capital of Sun Mass (Disposal).Vendors agree to dispose their entire issued shares of Sun Mass, in a total of 16,580,000 shares, to the purchaser, of which 1,658,000 shares and 14,922,000 shares will be contributed from Sun Mass Corporation and Sun Mass Funding Corporation respectively.Purchaser agrees to purchase all the aforesaid shares at a total consideration of HK$1.00.Expects to record an unaudited gain on disposal of the disposed group of about HK$86.6 million.Upon the completion of the SPSA, the disposed group will no longer be a subsidiary of the group. 

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0.01 +2.90%
29 Apr 2016