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Shenzhen Investment Ltd transfer of equity interest in Shenyang Wuai

Tuesday, 31 Dec 2013 06:00am EST 

Shenzhen Investment Ltd:Says on Dec. 31, 2013 it underwent an internal restructuring in relation to the shareholding interest of Shenyang Wuai.Says Shum Yip Shumkang, a subsidiary owned as to 80 percent by the company, agreed to transfer the Wuai Equity Interest and assign its rights and interests in the Wuai Shareholder’s Loan to Shum Yip Taifu Logistics.Says the aggregate consideration of RMB228,890,731.88, out of which RMB144,000,000 was the consideration for the transfer of the Wuai Equity Interest.Says the remaining RMB84,890,731.88 was the consideration for the assignment of the Wuai Shareholder’s Loan.Says following completion of the Wuai Transfer, Shenyang Wuai and its subsidiaries will continue to be indirect non wholly owned subsidiaries of the company. 

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