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1806 - Huifu News Story

HK$3.3 0.1  1.9%

Last Trade - 07/08/20

Market Cap £420.0m
Enterprise Value £272.4m
Revenue £403.1m
Position in Universe 1275th / 5983

BRIEF-Huifu Ltd Says Relevant Existing Shareholders Propose To Exit From Investments In China PnR

Fri 29th May, 2020 2:01pm
May 29 (Reuters) - Huifu Ltd  1806.HK :
    * NOTIFIED BY RELEVANT EXISTING REGISTERED SHAREHOLDERS THAT
THEY
PROPOSE TO EXIT FROM THEIR INVESTMENTS IN CHINA PNR 
    * UNDER FIRST EQUITY TRANSFER AGREEMENT CHEN YAN SHALL
TRANSFER 5%
EQUITY INTEREST IN CHINA PNR TO MU HAIJIE AT CONSIDERATION OF
RMB5 MILLION
    * UNDER SECOND EQUITY TRANSFER AGREEMENT LIU GANG SHALL
TRANSFER
15% EQUITY INTEREST IN CHINA PNR TO  JIN YUAN FOR RMB15 MILLION
    * UNDER FIRST EQUITY TRANSFER AGREEMENT XU ZHUOMIN SHALL
TRANSFER
5% STAKE IN CHINA PNR TO MU HAIJIE AT RMB5 MILLION
    * UNDER SECOND EQUITY TRANSFER AGREEMENT ZHANG GE SHALL
TRANSFER
5% EQUITY INTEREST IN CHINA PNR TO  JIN YUAN FOR RMB5 MILLION
    * UNDER DEBT ASSIGNMENT DEAL, CHEN YAN, XU ZHUOMIN TO ASSIGN
OUTSTANDING LOANS OWED TO PNR NETWORK TECHNOLOGY (SHANGHAI) OF
RMB10MLN TO MU HAIJIE
    * UNDER DEBT ASSIGNMNET DEAL LIU GANG, ZHANG GE ASSIGN
OUTSTANDING
LOANS THEY OWE TO PNR NETWORK TECHNOLOGY (SHANGHAI) OF RMB20
MILLION TO JIN YUAN
    * CO TO ESTABLISH NEW CONTRACTUAL ARRANGEMENTS ENTERED BY,
AMONG
OTHERS, WFOE, CHINA PNR & NEW REGISTERED SHAREHOLDERS
    * TERMINATION AGREEMENT BETWEEN CHINA PNR, WFOE & EXISTING
REGISTERED SHAREHOLDERS FOR TERMINATION OF CERTAIN EXISTING VIE
AGREEMENTS
    * UNDER DEBT ASSIGNMENT DEAL, LIU GANG, ZHANG GE TO ASSIGN
OUTSTANDING LOANS OWED TO PNR NETWORK TECHNOLOGY (SHANGHAI) OF
RMB20MLN TO JIN YUAN

Source text for Eikon:  ID:nHKS25CgMD 
Further company coverage:  1806.HK 

 ((Reuters.Briefs@thomsonreuters.com;))
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