Brief: SMIT Shenzhen To Transfer Stakes In SMIT Xinxin To Three Individuals

Smit Holdings

31/03/2020 16:14

March 31 (Reuters) - Smit Holdings Ltd  2239.HK :
    * SMIT SHENZHEN WOULD TRANSFER 28%, 20% AND 3% STAKE IN SMIT
XINXIN TO 3 INDIVIDUALS
    * INVESTOR A TO ASSUME PAYMENT OBLIGATION OF RMB27 MILLION
OWED TO
SMIT XINXIN CORRESPONDING TO 27% STAKE IN SMIT XINXIN
    * INVESTOR B SHALL ASSUME PAYMENT OBLIGATION OF RMB20
MILLION OWED
TO SMIT XINXIN CORRESPONDING TO 20% EQUITY INTEREST IN SMIT
XINXIN
    * INVESTOR C SHALL ASSUME PAYMENT OBLIGATION OF RMB3 MILLION
OWED
TO SMIT XINXIN CORRESPONDING TO 3% EQUITY INTEREST IN SMIT
XINXIN

Source text for Eikon:  ID:nHKS2Wkxbf 
Further company coverage:  2239.HK 

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