Brief: Avichina Industry & Technology Says AVIC Avionics Entered Into Share Swap & Absorption Agreement

AviChina Industry & Technology Co

10/06/2022 15:56

June 10 (Reuters) - AviChina Industry & Technology Co Ltd
 2357.HK :
    * AVIC AVIONICS AND AVIC ELECTROMECHANICAL HAVE ENTERED INTO
SHARE
SWAP AND ABSORPTION AGREEMENT
    * AVIC AVIONICS AND CO, AVIC AVIATION INDUSTRY INVESTMENT,
AND
OTHERS ENTERED INTO SUBSCRIPTION AGREEMENT RESPECTIVELY
    * CO AND AVIC AIRBORNE SYSTEMS HAVE ENTERED INTO ENTRUSTED
VOTING
ARRANGEMENT AGREEMENT
    * AVIC AVIONICS TO ISSUE AVIC AVIONICS A SHARES TO SHARE
SWAP
PARTICIPATING SHAREHOLDERS OF AVIC ELECTROMECHANICAL
    * AVIC AVIONICS INTENDED TO PLACE AVIC AVIONICS A SHARES TO
RAISE
FUND AT A TOTAL AMOUNT UP TO RMB5,000 MILLION
    * TO SUBSCRIBE FOR AVIC AVIONICS A SHARES AT TOTAL
CONSIDERATION
OF RMB500 MILLION IN CASH
    * UNDER AGREEMENT, ISSUE OF AVIC AVIONICS A SHARES IN
EXCHANGE FOR
AVIC ELECTROMECHANICAL A SHARES
    * UNDER DEAL, EXCHANGE RATIO IS OF 1 AVIC ELECTROMECHANICAL
A
SHARES TO 0.6605 AVIC AVIONICS A SHARE
    * POST SHARE SWAP & SUBSCRIPTION, AVIC AVIONICS WILL BE
OWNED AS
TO 27.52% BY AVIC AIRBORNE SYSTEMS, 16.92% BY CO
    * AVIC AVIATION INDUSTRY INVESTMENT TO SUBSCRIBE FOR AVIC
AVIONICS
A SHARES AT TOTAL CONSIDERATION OF RMB300 MILLION

Source text for Eikon:  ID: 
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