Brief: Shanghai Zendai Property updates on MOU entered by controlling shareholder

DevGreat

13/01/2016 13:26

Jan 13 (Reuters) - Shanghai Zendai Property Ltd  0755.HK : 
 * Says discussions between controlling shareholder and the selected potential 
purchaser are still in progress 
 * Has entered into an amended and restated MOU on 11 January 2016 with one of 
potential purchasers 
 * Says no formal and legally binding agreement has been entered into 
 * Agreed to pay a deposit in amount of RMB50 million within two business days 
from date of amended MOU 
 * Applied for resumption of trading in the shares on the stock exchange with 
effect from 9:00 a.m. on 14 January 2016 
 * As at the date of this announcement, controlling shareholder has terminated 
its discussions with other 3 potential purchasers 
 
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