Brief: Yan Tat Announces Substantial Disposal, Acquisition & Cooperation Agreement

Yan Tat group

15/05/2020 16:07

May 15 (Reuters) - Yan Tat Group Holdings Ltd  1480.HK :
    * YT GROUP, YT INDUSTRIAL, AMONG OTHERS (PARTY A) & HUAYU
TIANCHENG, FENGYUAN WEIXIN (PARTY B) AGREED TO COOPERATE ON
URBAN RENEWAL PROJECT
    * PARTY A TO SELL STAKE IN YT INDUSTRIAL FOR RMB100 MILLION
TO
PARTY B
    * PARTY B SHALL DEMOLISH BUILDINGS ERECTED ON TARGET LAND B
&
OBTAIN LAND USE RIGHT & DEVELOPMENT RIGHT
    * APPLICATION MADE BY CO FOR RESUMPTION OF TRADING IN SHARES
FROM
9:00 A.M. ON 18 MAY
    * FOR TARGET LAND B, PARTY B TO PAY PARTY A RELOCATION
COMPENSATION OF RMB600 MILLION
    * TITLE TO RESETTLEMENT PROPERTIES FOR TARGET LAND B TO
AMOUNT TO
ABOUT RMB700 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS1jpb5p
Further company coverage:  1480.HK 

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