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The Sincere Co Ltd Announces Disposal Of Indirect Interest In Dalian Sincere


Thursday, 27 Sep 2012 10:00am EDT 

The Sincere Co Ltd announced that on September 14, 2012, the vendor, The Sincere Department Store (China) Limited, (a wholly owned subsidiary of the Company), Dalian Sincere, (an indirect wholly owned subsidiary of the Company) and the Company have entered into the Agreement with the Dashang Jiahua Group Limited (Purchaser), pursuant to which, the Vendor has conditionally agreed to sell the Sale Shares, being the entire registered capital of Dalian Sincere, at the Share Consideration of RMB72,000,000 (equivalent to approximately HKD88,128,000); and the Vendor and the Company have conditionally agreed to sell the Debt at the Debt Consideration of RMB229,000,000 (equivalent to approximately HKD280,296,000). The aggregate Consideration for the Debt and the Sale Shares is RMB301,000,000 (equivalent to approximately HKD368,424,000). 

Company Quote

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2 Sep 2014