Homepage
PR Newswire
EGM 30 Sep 2020@10am
To approve the proposed acquisition of 35.9% shareholding interests in Langfang Hezhong Real Estate Development Co., Ltd., as a major transaction
On 16 July 2020, the Company announced that its subsidiary, Langfang Tonghui Education Consulting Co., Ltd., the Purchaser, had on 16 July 2020 entered into a sale and purchase agreement with Langfang Heying Real Estate Development Co., Ltd., the Vendor, for the sale and purchase of 35.9% equity interest in the Target Company for an aggregate consideration of RMB 254,000,000, equivalent to approximately S$49,987,000 based on an exchange rate of S$0.1968: RMB1 as at 30 June 2020. As the Proposed Acquisition would constitute a “major transaction” for the purposes of Chapter 10 of the Listing Manual, the approval of Shareholders is required for the Proposed Acquisition and the Directors propose to convene an EGM to seek Shareholders’ approval for the same.
Stay safe and stay healthy, please.
To approve the proposed acquisition of 35.9% shareholding interests in Langfang Hezhong Real Estate Development Co., Ltd., as a major transaction
On 16 July 2020, the Company announced that its subsidiary, Langfang Tonghui Education Consulting Co., Ltd., the Purchaser, had on 16 July 2020 entered into a sale and purchase agreement with Langfang Heying Real Estate Development Co., Ltd., the Vendor, for the sale and purchase of 35.9% equity interest in the Target Company for an aggregate consideration of RMB 254,000,000, equivalent to approximately S$49,987,000 based on an exchange rate of S$0.1968: RMB1 as at 30 June 2020. As the Proposed Acquisition would constitute a “major transaction” for the purposes of Chapter 10 of the Listing Manual, the approval of Shareholders is required for the Proposed Acquisition and the Directors propose to convene an EGM to seek Shareholders’ approval for the same.
Stay safe and stay healthy, please.