Alco Holdings MOU with China Flash Gift, Jiande Yongzhan Tourism Lapses

MT Newswires Live09-26

Alco Holdings (HKG:0328) decided to not proceed with the possible cooperation with China Flash Gift Group and Jiande Yongzhan Tourism and Culture under the memorandum of understanding entered into by the parties on Aug. 9, a Wednesday filing with the Hong Kong Exchange said.

The parties had agreed to look for ways to cooperate and collaborate by leveraging each other's advantages to expand and improve business development and efficiency under the MOU.

As the parties couldn't come to a consensus on the terms and conditions of the formal agreement, the company found that extending the long stop date of the MOU was unnecessary, and hence the MOU has lapsed.

The consumer electronic products manufacturer's shares closed nearly 9% higher on Thursday.

Price (HKD): $5.69, Change: $+0.46, Percent Change: +8.80%

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