Xian Haitian Investment Holding Co., Ltd. cancelled the acquisition of buildings and structures from Xi an Haitian Antenna Technologies Co. Ltd..
January 10, 2015 at 04:00 am
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Xian Haitian Investment Holding Co., Ltd. entered into an agreement to acquire buildings and structures from Xi an Haitian Antenna Technologies Co. Ltd. (SEHK:8227) for CNY 68 million on January 10, 2014. The deal includes buildings and structures erected on the land along with the ancillary facilities attached thereon. Under the terms of the agreement, CNY 40.8 million will be payable by cash within 60 days from the effective date of the agreement and CNY 27.2 million will be payable by cash within 30 days from the effective date of the transfer of title. Xian Haitian Investment Holding Co., Ltd. has also permitted the seller to use certain buildings and structures erected on the land for one year from the effective date of the agreement free of charge.
The deal is subject to approval by Xi an Haitian Antenna Technologies Co. Ltd. shareholders' approval. The transaction has been recommended by the Board of Xi an Haitian Antenna Technologies to the shareholders to vote in favour. As on March 11, 2014, the shareholders of Xi'an Haitian Antenna Technologies approved the transaction. The proceeds will be used as to CNY 41.7 million for repayment of debts owed to Xian Haitian Investment Holding Co., Ltd. and the balance will be used as general working capital. BMI Appraisals Limited acted as valuer for Xi an Haitian Antenna Technologies Co. Ltd. Shaanxi Huaqin Law Firm acted as the legal advisor and Computershare Hong Kong Investor Services Limited acted as transfer agent for Xi an Haitian Antenna Technologies Co. Ltd.
Xian Haitian Investment Holding Co., Ltd. cancelled the acquisition of buildings and structures from Xi an Haitian Antenna Technologies Co. Ltd. (SEHK:8227) on January 10, 2015.
XiAn Haitian Antenna Technologies Co Ltd is a China-based company mainly engaged in the research and development, manufacturing and sales of mobile communication antennas and related products. The Company operates primarily through four segments. The Sales of Antenna Products and Provision of Related Services segment is mainly engaged in the production and sales of mobile communication products. The Sales of Underwater Monitoring Products and Related Products segment is mainly engaged in the production and sales of underwater and underground surveillance, imaging, mechanical equipment, as well as complicated environment warning and surveillance equipment. The Sales of Aircraft Products segment is mainly engaged in the production and sales of agricultural and forestry used unmanned aerial vehicles. The Sales of Agricultural Products segment is mainly engaged in the sales of live chickens, chicken meat and related non-staple foods.
XI'AN HAITIAN ANTENNA TECHNOLOGIES CO., LTD. 