Brief: Honbridge Says Unit Entered Reorganisation Agreement With Geely Auto & Jiangsu Tiankai

Honbridge Holdings

20/01/2020 15:09

Jan 20 (Reuters) - Honbridge Holdings Ltd  8137.HK :
    * TRIUMPHANT GLORY ENTERED INTO REORGANISATION AGREEMENT
WITH
GEELY AUTO AND JIANGSU TIANKAI
    * JIANGSU TIANKAI AGREED TO MAKE CAPITAL CONTRIBUTION OF
US$20.4
MILLION INTO SHANDONG FOREVER NEW ENERGY
    * UPON COMPLETION, JIANGSU TIANKAI TO OWN 50% STAKE IN
SHANDONG
FOREVER NEW ENERGY
    * UPON COMPLETION, TRIUMPHANT GLORY'S STAKE IN SHANDONG
FOREVER
NEW ENERGY WILL DILUTE TO 24.5%
    * AS A RESULT OF CAPITAL INCREASE, SHANDONG FOREVER NEW
ENERGY
WILL CEASE TO BE CO'S UNIT
    * HONBRIDGE HOLDINGS LTD EXPECTS GAIN ON DISPOSAL OF ABOUT
HK$27.7
MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS5FKnCz
Further company coverage:  8137.HK 

 (Reuters.Briefs@thomsonreuters.com)