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DVN (Holdings) Ltd Announces Disposal Of Subsidiary

Thursday, 30 Aug 2012 07:50am EDT 

DVN (Holdings) Ltd announced that on August 30, 2012, Digital Video Networks (Beijing) Co., Ltd., an indirect wholly owned subsidiary of the Company (the Vendor) entered into the Agreement with AVIT Ltd. a company established in the PRC, the shares of which are listed on the Shenzhen Stock Exchange (the Purchaser), pursuant to which the Vendor conditionally agreed to sell, and the Purchaser conditionally agreed to purchase, the entire paid-up capital of the Target Company at an aggregate consideration of RMB27 million (equivalent to approximately HKD33.2 million). The Target Company is a wholly owned subsidiary of the Vendor and will hold the Group’s entire interests in the Remaining DVB Business. The Remaining DVB Business principally relates to the DVN Business Operation Support System which provides back-office and management support for multitude of applications and services that are developed on the interactive television platform. 

Company Quote

-0.02 -2.53%
3:59am EDT