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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Greentech Technology International Limited    195   KYG4100V1059

GREENTECH TECHNOLOGY INTERNATIONAL LIMIT

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Greentech Technology International : FURTHER EXTENSION OF LONG STOP DATE OF DISCLOSEABLE TRANSACTION

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02/06/2020 | 08:38am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement and make no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of Greentech Technology International Limited.

GREENTECH TECHNOLOGY INTERNATIONAL LIMITED

綠 科 科 技 國 際 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 00195)

FURTHER EXTENSION OF LONG STOP DATE OF

DISCLOSEABLE TRANSACTION

Reference is made to the announcement made by Greentech Technology International Limited (the ''Company'') dated 24 December 2019 (the ''Announcement'') in relation to the acquisition of 10% of the entire issued share capital of Yu Jin Investment (BVI) and the announcement made by the Company dated 4 February 2020 (the ''Extension Announcement'') in relation to the extension of the Long Stop Date. Unless otherwise defined, capitalized terms in this announcement shall have the same meanings as those defined in the Announcement.

Pursuant to the Share Transfer Agreement, Completion is subject to the satisfaction of the Conditions Precedent by 31 January 2020, or such other date as the parties may agree in writing (the ''Long Stop Date''). As disclosed in the Extension Announcement, the Long Stop Date has been extended to 7 February 2020.

Due to the suspension of entry to Mongolia from China as a result of the recent coronavirus outbreak, additional time is required to complete the due diligence exercise on the Target Group. As additional time is required for the fulfillment of the Conditions Precedent, the Vendor and the Company have agreed to further extend the Long Stop Date to 9 April 2020, or such other date as the parties may agree in writing.

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Save as disclosed in this announcement and the Extension Announcement, all other terms and conditions of the Share Transfer Agreement shall remain unchanged.

Completion is subject to the fulfillment of the conditions precedent set out in the Share Transfer Agreement and therefore may or may not proceed. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares.

By order of the Board

Greentech Technology International Limited

XIE Yue

Executive Director

Hong Kong, 6 February 2020

As at the date of this announcement, the board of directors of the Company comprises five executive directors, namely, Mr. LI Dong, Mr. NIE Dong, Mr. WANG Chuanhu, Ms. XIE Yue and Ms. Sumiya Altantuya; two non-executive directors, namely, Tan Sri Dato' KOO Yuen Kim P.S.M., D.P.T.J. J.P (Mr. HSU Jing-Sheng as his alternate) and Mr. JIN Ye and three independent non-executive directors, namely, Mr. CHI Chi Hung, Kenneth, Mr. ZENG Jin and Mr. DUAN Zhida.

Website: http://www.green-technology.com.hk

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Disclaimer

L’sea Resources International Holdings Limited published this content on 06 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2020 13:37:06 UTC

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Financials
Sales 2019 444 M 57,3 M 57,3 M
Net income 2019 -61,6 M -7,95 M -7,95 M
Net cash 2019 86,1 M 11,1 M 11,1 M
P/E ratio 2019 -18,3x
Yield 2019 -
Capitalization 690 M 89,0 M 89,0 M
EV / Sales 2018 1,09x
EV / Sales 2019 2,35x
Nbr of Employees 316
Free-Float 45,6%
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Managers
NameTitle
Yue Xie Co-Chief Executive Officer & Executive Director
Jing-Sheng Hsu Co-Chief Executive Officer & Executive Director
Yuen Kim Koo Chairman
Yiu Por Lam Chief Financial Officer & Vice President
Chuan Hu Wang Executive Director