Brief: Bonso Electronics announces signing of a letter of intent on reconstruction of the Shenzhen Factory
25/07/2017 13:10
July 25 (Reuters) - Bonso Electronics International Inc
BNSO.O :
* Bonso Electronics announces signing of a letter of intent
on reconstruction of the Shenzhen Factory
* Bonso Electronics International Inc - if agreement
reached, redevelopment will start in mid-2019 and reconstruction
is expected to be finished by 2021
* Bonso Electronics International Inc - companies expect to
reach a definitive agreement within next three months
* Bonso Electronics - under terms of LOI, Fangda will be
responsible for applying for government
approvals,financing,handling redevelopment
* Bonso Electronics - Fangda will be responsible for
applying for necessary government approvals and, financing and
handling redevelopment project
* Bonso Electronics-both cos to share redeveloped property
after reconstruction/redevelopment completed with Bonso holding
45 percent interest in floor area
Source text for Eikon: ID:nGNXOCOPSa
Further company coverage: BNSO.O
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