Brief: Vmoto Acquires Strategic Soco Shanghai Patents For RMB13.5 Mln

Vmoto

21/09/2023 08:10

Sept 21 (Reuters) - Vmoto Ltd  VMT.AX :
    * ACQUIRES STRATEGIC SOCO SHANGHAI PATENTS
    * TOTAL CASH CONSIDERATION OF RMB13.5 MILLION
    * ACQUISITION TO BE FUNDED FROM COMPANY'S EXISTING CASH
RESERVES
    * STRATEGIC ACQUISITION TO DE-RISK COMPANY'S INTERNATIONAL
GROWTH
STRATEGY
    * NANJING VMOTO MANUFACTURING SUCCESSFULLY BID TO ACQUIRE
PATENTS
FOR VARIOUS MODELS OF SUPER SOCO INTELLIGENT TECHNOLOGY
(SHANGHAI) CO
    * TRANSFER OF OWNERSHIP FOR PATENTS IS EXPECTED TO BE
COMPLETED IN
NOVEMBER 2023

Source text for Eikon:  ID:nASX1WmX7c 
Further company coverage:  VMT.AX 

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