Shenzhen MTC Co., Ltd. signed an Equity transfer agreement to acquire a 55.6% stake in Guangdong Ruigu Optical Network Communication Co.,Ltd from Li Hao, and Li Fengxiang for approximately CNY 130 million.
Shenzhen MTC Co., Ltd. (SZSE:002429) signed an Equity transfer agreement to acquire a 55.6% stake in Guangdong Ruigu Optical Network Communication Co.,Ltd from Li Hao, and Li Fengxiang for approximately CNY 130 million on July 25, 2023. Under the terms, Shenzhen MTC will pay CNY 43.3 million within 10 days since the effective date of the agreement, CNY 76.9 million within 10 days since the completion, and third installment of CNY 13.4 million within 12 months of completion. As of May 31, 2023, Guangdong Ruigu Optical Network reported total asset of CNY 423.4 million and net asset of CNY 114.4 million.
This transaction does not need to be submitted to the board of directors and regular shareholders? meeting for deliberation.
Shenzhen MTC Co., Ltd. is a China-based company, principally engaged in the research and development, design, manufacture and distribution of household video and audio consumer electronics. The Company primarily provides household video and audio consumer electronics, including liquid crystal display (LCD) televisions, digital set top boxes, blue laser video disk players, multimedia sound boxes and light emitting diode (LED) products and accessories. The Company also offers Internet terminals and services, and original design manufacturer (ODM) services. The Company distributes its products in domestic and overseas markets.
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Shenzhen MTC Co., Ltd. signed an Equity transfer agreement to acquire a 55.6% stake in Guangdong Ruigu Optical Network Communication Co.,Ltd from Li Hao, and Li Fengxiang for approximately CNY 130 million.
