Brief: Solartech International updates on equity transfer agreement

Solartech International Holdings

09/02/2017 12:36

Feb 9 (Reuters) - Solartech International Holdings Ltd 
 1166.HK  
    * Discloseable transaction and exempted connected 
transaction in relation to the disposal of 51% equity interest 
in Henan Shengxiang Industry Co., Ltd 
    * Vendor (an indirect wholly-owned subsidiary of company) 
entered into equity transfer agreement with purchaser, Zhou Wei 
    * Deal for rmb8.2 million 
    * Purchaser has conditionally agreed to acquire and vendor 
has conditionally agreed to sell 51% equity interest in target 
co 
    * Is expected that aggregate net proceeds of disposal will 
be rmb8 million 
    * Expected loss arising from disposal to be recognised by 
group in its consolidated income statement is estimated at about 
HKD187,000 
 
Source text for Eikon:  ID:nHKS74vc9g  
Further company coverage:  1166.HK  
 
 ((Bangalore.newsroom@thomsonreuters.com;))