Brief: Honbridge Holdings updates on formation of joint investment project co

Honbridge Holdings

11/12/2015 10:15

Dec 11 (Reuters) - Honbridge Holdings Ltd  8137.HK : 
 * Discloseable transaction - formation of the joint investment project company 
 * Honbridge Power, Shanghai Maple and Jiaxing Jiale have entered into the joint investment agreement 
 * Says the joint investment agreement to establish the project company 
 * Project company is owned as 49%, 48% and 3% by Honbridge power, Shanghai Maple and Jiaxing Jiale respectively 
 * Project company's total investment and registered capital is RMB1.50 billion 
 * Says the capital contribution to be made by the company is USD39.2 million 
 * Says term of operation of the project company is twenty years from the date of incorporation of the project company 
 * Capital contribution to be made by the company will be funded by the proceeds from placing of new shares of co in June 2015 
 * Parties are required to inject 10% of agreed capital commitment along with registration procedures within 15 working days after entering agreement 
 
 * Source text for Eikon  ID:nHKSbtWrPx  
 
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