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China YuHua Education's Unit to Dispose Thailand Subsidiary for HK$240 Million
YUHUA EDU (06169.HK) plans to sell educational Assets in Thailand, with a Trade amount reaching 0.24 billion HKD.
Gelonghui, December 27 - YUHUA EDU (06169.HK) announced that on December 27, 2024, the seller (China YUHUA EDU Investment Co., Ltd., a wholly-owned subsidiary of the company) entered into a sale agreement with the buyer (Mr. Xin Yu, a Chinese citizen), under which the seller has agreed to sell and the buyer has agreed to purchase all shares of the target company, for a total acquisition price of 0.24 billion Hong Kong dollars. The proceeds from the sale are intended to be used to repay the group’s already issued convertible Bonds due in 2024. The target company (i.e., Thai Education Holdings Co.,
(1) UPDATE IN RELATION TO THE HK$2,088,000,000 0.90% CONVERTIBLE BONDS DUE 2024 (THE "CONVERTIBLE BONDS"); (2) FURTHER DELAY IN PUBLICATION OF THE ANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST 2024 AND POSSIBLE DELAY IN DESPATCH OF THE 2024 A...
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