[ET Net News Agency, 19 December 2019] Ground International Development Limited (00989)
said the company and Jade Cloud Estates (the purchaser) entered into an LOI in relation to
a potential disposal, pursuant to which the company (through the relevant subsidiaries)
may sell the entire issued share capital of each of the target companies (i.e. each of the
property-holding companies or its holding companies) based on purchaser's due diligence of
the holding structure of the properties and each of the relevant companies) and the
shareholders' loans due by the target companies (if any) at a consideration of HK$305.28
million.
The group intends to utilise the majority of the net proceeds (being approximately
HK$300.5 million) for the repayment of bank loans, thereby reducing the group's
liabilities and interests expenses. (RC)
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00989 HUA YIN INTL H
Nominal 
0.047 -0.002 (-4.082%) Others
19/12/2019 11:39
Ground Int'l Dev (00989) signs LOI to sell properties
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