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C Y Foundation Group Ltd Announces Completion Of The Very Substantial Disposal


Monday, 30 Sep 2013 06:36am EDT 

C Y Foundation Group Ltd announced that with reference to the announcement made on July 18, 2013, in relation to the disposal of the entire issued share capital of Expert Global Investments Limited. The Company now announced that Completion took place on September 30, 2013 (the Completion Date). The Purchaser has paid the Consideration in cash in the sum of about CNY103 million and shall pay the sum of about CNY2 million by October 8, 2013. The remaining CNY5 million will be paid by the Purchaser within six months after the Completion Date or upon the changes of all legal representatives of all PRC subsidiaries becoming effective, whichever is earlier. Following Completion, the Group has ceased to have any interest in the Disposed Group and the Disposed Group has ceased to be subsidiaries of the Company. 

Company Quote

0.315
0.01 +3.28%
19 Sep 2014