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HKBN Ltd. — M&A Activity 2016
Mar 31, 2016
49841_rns_2016-03-31_0a60423f-1c41-4e9a-9974-4df09523e9ab.pdf
M&A Activity
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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HKBN Ltd. 香港寬頻有限公司
(Incorporated in the Cayman Islands with limited liability)
Stock Code: 1310
COMPLETION OF THE MAJOR TRANSACTION ACQUISITION OF THE TELECOMMUNICATIONS AND ONLINE MARKETING SOLUTIONS BUSINESS OWNED BY NEW WORLD TELEPHONE HOLDINGS LIMITED THROUGH THE ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL OF CONCORD IDEAS LTD. AND SIMPLE CLICK INVESTMENTS LIMITED
HKBN Ltd. (the “Company”) refers to its announcement dated 18 February 2016 and the circular dated 1 March 2016 in relation to the major transaction — acquisition of the telecommunications and online marketing solutions business owned by New World Telephone Holdings Limited through the acquisition of the entire issued share capital of Concord Ideas Ltd. and Simple Click Investments Limited (the “Circular”). Unless otherwise stated, capitalised terms used in this announcement shall have the meaning as defined in the Circular.
The Company is pleased to announce that the condition precedent set out in the Share Purchase Agreement has been satisfied and Closing of the Acquisition took place on 31 March 2016. Upon Closing, the Target Companies have become direct wholly-owned subsidiaries of HKBNGL and indirect wholly-owned subsidiaries of the Company.
By Order of the Board HKBN Ltd. Ni Quiaque LAI Executive Director
Hong Kong, 31 March 2016
As at the date of this announcement, the Board comprises:
Executive Directors Independent Non-executive Directors Mr. William Chu Kwong YEUNG Mr. Bradley Jay HORWITZ (Chairman) Mr. Ni Quiaque LAI Mr. Stanley CHOW Mr. Quinn Yee Kwan LAW, SBS, JP Non-executive Director
Ms. Deborah Keiko ORIDA