Future World Holdings Acquires 100% Stake in Elite Holdings International

MT Newswires Live08-01

Future World Holdings (HKG:0572) issued and allotted 21,700,000 consideration shares to Chu Yuk Shun Joseph at HK$0.7 per share to settle the 14.1 million yuan consideration payment for certain acquisitions, a Wednesday filing with the Hong Kong Exchange said.

The company also issued a promissory bond in the principal amount of HK$13.6 million to settle the remaining balance of 12.6 million yuan of the said acquisition on the day of the filing.

The company had agreed to settle the payment of 1.8 million yuan for the acquisition of the entire equity interest in Elite Holdings International and its shareholder's loan of 25.0 million by settling 14.1 million yuan by issuing shares to the vendor and by issuing a promissory bond in the principal amount of HK$13.6 million to settle the balance of 12.6 million yuan.

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