[ET Net News Agency, 11 January 2019] LongiTech Smart Energy Holding Limited (01281)
announced that the sale and purchase agreement for the acquisition of the entire issued
share capital of Sino Renewable Energy Investment Limited (Sino Renewable) has lapsed as
the conditions precedent of the acquisition have not been fulfilled on or before 10
The board considers that the lapse of the agreement will not have any material adverse
impact on the business, operation and financial position of the group.
On 7 November 2018, Longe International Investment Limited, a subsidiary of LongiTech,
proposed to acquire the entire issued share capital of Sino Renewable from China Ruifeng
Renewable Energy Holdings Limited (00527), at the consideration of HK$195.36 million. The
amount was to be satisfied by the issue of convertible bonds of LongiTech.
Sino Renewable owns Baotou Yinfeng, which is principally engaged in the investment,
development, construction and operation of environmental protection industry projects
relating to power and energy in the PRC. (RC)
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