Pak Tak to Convene SGM Regarding Acquisition of 100% Stake in Zongchuan Investment Group

MT Newswires Live07-02

Pak Tak International (HKG:2668) is to convene a special general meeting of the company on July 19, to further discuss the acquisition of the entire issued share capital of Zongchuan Investment Group from Zongchuan Investment Holding, a Friday filing with the Hong Kong Exchange said.

The consideration for the acquisition, as per the agreement, was set at 289.9 million yuan, to be paid by way of allotment and issue of 950 million consideration shares at HK$0.336 per share by the company to the vendor under the specific mandate.

The parties had entered a supplemental agreement on June 24, to extend the long stop date for the transaction to Sept. 30.

The company shares ballooned over 36% on Tuesday's close.

Price (HKD): $0.97, Change: $+0.26, Percent Change: +36.62%

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