Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Wright Reports
$75.00
Provider: Thomson Reuters Stock Report
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

HL Technology Group Ltd Announces Disposal Of Wuhan Electronic


Friday, 27 Sep 2013 05:27am EDT 

HL Technology Group Ltd announced that, on September 27, 2013 (after trading hours), the Company entered into the Disposal Agreement I with U&T. Pursuant to the Disposal Agreement I, the Company agreed to dispose of and U&T agreed to purchase 25% equity interest in Wuhan Electronic at the consideration of CNY1.25 million (equivalent to approximately HKD1.56 million). On the same day, Weihai Electronic, an indirectly wholly-owned subsidiary of the Company, entered into the Disposal Agreement II with Rongfa Electronic. Pursuant to the Disposal Agreement II, Weihai Electronic agreed to dispose of and Rongfa Electronic agreed to purchase 75% equity interest in Wuhan Electronic at the consideration of CNY3.75 million (equivalent to approximately HKD4.69 million). Upon completion of the transactions contemplated under the Disposal Agreements, the Company will not, directly or indirectly, hold any equity interest in Wuhan Electronic, who will thereupon cease to be a subsidiary of the Company. The Consideration will be paid by the respective purchasers in cash within 180 days after the completion of the registration of the transfers of the said equity interest in the relevant Industrial and Commercial Bureau in the PRC. The sales proceeds will be utilized by the Group as general working capital for business development. Wuhan Electronic is a company established in the PRC with limited liability by the Company and Weihai Electronic on October 11, 2005. 

Company Quote

1.63
-0.06 -3.55%
17 Sep 2014