Brief: Elife updates on conditional subscription agreement

Elife Holdings

09/02/2017 09:27

Feb 9 (Reuters) - Elife Holdings Ltd  0223.HK  
    * Reference is made to announcement of company dated 22 
november 2016 in relation to conditional subscription agreement 
    * Chen decided not to proceed with subscription of 28% of 
issued share capital of national gain 
    * Subscription agreement lapsed and became null and void 
forthwith on 31 Dec 2016 and both parties thereto were released 
from all obligations thereunder 
    * Group has sufficient capacity to finance start-up capital 
to be invested in national gain group 
    * Intends to maintain its 100% shareholding in national gain 
    * Intends to continue pursuing investment of up to about 
hk$100 million as start-up capital in national gain group 
    * Subscription amount by chen is considered immaterial 
relative to total investment of approximately hk$100 million in 
national gain group 
    * Direction and plan for strategic cooperation with huimin 
remain unchanged and unaffected by lapse of subscription 
agreement 
 
Source text for Eikon:  ID:nHKS5FdJnP  
Further company coverage:  0223.HK  
 
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