Bojun Education Company Limited (01758) said Cosmic City, Surpass Luck and Zheng Yong have conditionally agreed to dispose of 114.63 million, 42.41 million and 76.88 million issued shares in the company, representing approximately 13.95%, 5.16% and 9.35% of all issued shares, respectively, at a price of HK$0.50 per share, amounting to total consideration of HK$57.32 million, HK$21.21 million and HK$38.44 million, respectively. The purchaser is a company, which is ultimately owned by Wang Jinglei.
Upon completion of the disposals, Cosmic City, Surpass Luck, Zheng Yong and the purchaser will hold 98.49 million shares, 40.75 million shares, 46.51 million shares and 233.92 million shares, respectively, representing approximately 11.98%, 4.96%, 5.66% and 28.46% of all issued shares, respectively. Thus, the purchaser will become a substantial shareholder of the company.
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