Brief: Schweizer Electronic AG: Sale Of Majority Stake In Schweizer Electronic (Jiangsu) Co. Ltd

Schweizer Electronic AG

22/12/2022 09:14

Dec 22 (Reuters) - Schweizer Electronic Ag  SWEGn.DE :
    * EQS-ADHOC: SCHWEIZER ELECTRONIC AG:  SALE OF MAJORITY
STAKE IN
SCHWEIZER ELECTRONIC (JIANGSU) CO., LTD.
    * TODAY ENTERED INTO AN AGREEMENT TO SELL APPROXIMATELY 57 %
OF
SHARES IN SCHWEIZER ELECTRONIC (JIANGSU) CO., LTD. BASED IN
JINTAN, CHINA ("SEC") TO WUS PRINTED CIRCUIT (KUNSHAN) CO., LTD.
BASED IN KUNSHAN, CHINA ("WUS")
    * FOLLOWING TRANSFER OF SHARES, WUS IS TO SUBSCRIBE FOR AND
ACQUIRE FURTHER SHARES IN SEC AS PART OF AN INCREASE IN SEC'S
SHARE CAPITAL WHICH HAS YET TO BE RESOLVED
    * AFTER IMPLEMENTATION OF FUTURE CAPITAL INCREASE, WUS WILL
HOLD
AN 80 % INTEREST IN SEC
    * CLOSING OF TRANSACTION (CLOSING) IS EXPECTED TO TAKE PLACE
IN
THREE TO FOUR MONTHS
    * PURCHASE PRICE FOR SHARES IN SEC TO BE TRANSFERRED UNDER
SHARE
TRANSFER AGREEMENT AMOUNTS TO CNY 33,450,000

Further company coverage:  SWEGn.DE 
 (Reporting by Berlin Newsroom)
 ((berlin.newsroom@thomsonreuters.com;))