Brief: Armada Holdings updates on acquisition in CO by Great Wall Pan Asia

Great Wall Pan Asia Holdings

12/08/2016 15:59

Aug 12 (Reuters) - Armada Holdings Ltd  0583.HK : 
 * Hldgs-...more joint announcement (1) acquisition of a controlling interest in 
   Armada Holdings Limited by great Wall pan Asia (bvi) holding limited (2) 
   possible mandatory unconditional cash offer (3) major and connected 
   transaction and special deal 
 * The seller entered into the share purchase agreement with the purchaser 
 * Seller has conditionally agreed to sell and procure the related parties to 
   sell 1.16 billion shares 
 * Says Armada property, a wholly-owned subsidiary of the company, and the 
   coastline purchaser entered into the coastline spa 
 * Deal for consideration of hk$1.57 billion 
 * Armada property has agreed to sell, or procure the sale of, the coastline 
   shares 
 * Consideration payable by the coastline purchaser to Armada property shall be 
   hk$930 million 
 * Says intends to declare the coastline special cash dividend 
 * Says total cash consideration will be funded by internal resources of the 
   offeror and/or external debt-financing 
 
 * Source text for Eikon  ID:nHKS9RkCQC  
 
 ((Further company coverage:  0583.HK )) 
 ((Bangalore.newsroom@thomsonreuters.com))