Brief: ELL Environmental Holdings updates on disposal Of Subsidiary
21/09/2016 14:56
Sept 21 (Reuters) - ELL Environmental Holdings Ltd
1395.HK :
* Ell Env-discloseable Transaction Disposal Of A Subsidiary
* Greatcorp and purchaser entered into equity transfer
agreement
* Greatcorp has conditionally agreed to sell, and purchaser
has conditionally agreed to purchase equity interest
* Expected that proceeds from disposal will be used for
funding future business development opportunities
* Purchaser has conditionally agreed to purchase equity
interest at a cash consideration of RMB55.0 million
* Expect to procure Rugao Honghao to distribute minimum
expected dividend amount prior to completion
* Expect to record a before tax gain of not less than
approximately HK$0.9 million from disposal
Source text for Eikon: ID:nHKS8qkz3Y
Further company coverage: 1395.HK
((Bangalore.newsroom@thomsonreuters.com;))
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