Brief: Kingdee International announces termination of agreements

Kingdee International Software Co

28/07/2016 10:08

July 28 (Reuters) - Kingdee International Software Group Co Ltd  0268.HK : 
 * Intl-connected transactions in relation to termination of contractual arrangements in respect of Qianhai Baidi and Kingdee Cloudhub and disposal of the entire equity interest in Shanghai Kingdee Medical  0268.HK  
 * On 28 July 2016, Kingdee China, Zou Jin, Baijin Investment and Qianhai Baidi entered into Qianhai Baidi agreement 
 * Kingdee China, Hongjin Investment, Baijin Investment and Kingdee Cloudhub entered into Kingdee Cloudhub agreement 
 * Dqianhai baidi deal for RMB55.6 million 
 * On 28 July, Kingdee China, Hongjin Investment, Baijin Investment and Kingdee Cloudhub entered into Kingdee Cloudhub agreement 
 * In consideration of Kingdee China agreeing to enter into Kingdee cloudhub agreement, total consideration of RMB43.3 million 
 * There will be no material impact on consolidated balance sheet of group as a result of the transactions 
 * Estimated that group would record net gain of approximately RMB139 million (before taxation) from transactions 
 * Source text: (http://bit.ly/2abSMEo) 
 
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