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Shenyang Public Utility Holdings Co Ltd Announces Major Disposal


Tuesday, 13 Aug 2013 09:25am EDT 

Shenyang Public Utility Holdings Co Ltd announced that on August 13, 2013, after the trading hours, the Company entered into the Disposal Agreement with Shenzhen Chengxin Xingye Trading Company Limited (the Purchaser), whereby the Purchaser has conditionally agreed to purchase and the Company has conditionally agreed to sell the entire issued share capital and the Shareholder’s Loan of Guangzhou Zhongzhan Investment Holdings Company Limited, which is a wholly owned subsidiary of the Company (the Disposal) Company at the consideration of RMB280 million. The Consideration shall be satisfied in the following manner: (a) a deposit of RMB41 million shall be paid in cash by the Purchaser to the Company within 5 days upon entering into the Disposal Agreement; (b) a consideration of RMB120 million shall be paid in cash by the Purchasers to the Company within one month upon the completion of the change of the particulars of the Disposal Company in the Administration For Industry and Commerce Bureau; and (c) a remaining balance of RMB119 million shall be paid in cash by the Purchasers to the Company within 50 days upon the final acceptance of the first phase of the Project. 

Company Quote

0.58
0.01 +1.75%
27 Aug 2014