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Tradelink Electronic Commerce Ltd Announces Disposal Of 25% Equity Interest In Telstra Technology Services (HongKong) Ltd.

Tuesday, 18 Jun 2013 06:14am EDT 

Tradelink Electronic Commerce Ltd announced that it has entered into an agreement to sell its 25% of the issued share capital of TTS at a consideration of HKD7.0 million, on and subject to the terms and conditions of the Agreement. Pursuant to the Agreement, the Company agreed to sell the sale shares, representing 25% of the issued share capital of TTS as at the date of the Agreement, and Telstra Holdings Pty Limited (the Buyer) agreed to buy the same. The consideration shall be settled in cash and satisfied in a lump sum at Completion. The consideration has been determined after arm’s length negotiation between Buyer and the Company, taking into consideration of the current and future operations of TTS, including its historical operating profit and prospective capital needs. 

Company Quote

0.05 +3.03%
3:58am EDT