Brief: Xinming China announces termination of acquisition of Mainland Securities

Xinming China Holdings

26/07/2017 11:14

July 26 (Reuters) - Xinming China Holdings Ltd  2699.HK : 
    * Termination of acquisition of the entire equity interest 
in Mainland Securities 
    * Due to disputes on certain warranties given by Loong , 
company and Loong agreed to terminate acquisition contemplated 
under share purchase agreement 
    * Loong will return approximately 80% of deposit to co and 
both parties will not make any claim in respect of share 
purchase agreement 
    * Considers that termination of acquisition has no material 
adverse impact on existing business, operation or financial 
position of co 
 
Source text: (http://bit.ly/2ux6ugp) 
Further company coverage:  2699.HK  
 
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