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ICO Group Limited — Capital/Financing Update 2020
Oct 6, 2020
49938_rns_2020-10-06_1e08217b-240b-4c2b-9329-b87db7fb7614.pdf
Capital/Financing Update
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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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ICO GROUP LIMITED 揚科集團有限公司[*] (Incorporated in the Cayman Islands with limited liability) (Stock code: 1460)
COMPLETION OF DISCLOSEABLE TRANSACTION
Financial adviser to the Company
References are made to the announcements issued by the Company dated 27 August 2020 and 17 September 2020 (the “ Announcements ”) in relation to, among other matters, the Acquisition. Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless defined otherwise.
COMPLETION OF THE ACQUISITION
The Board is pleased to announce that all of the Acquisition Conditions set out in the Sale and Purchase Agreement have been fulfilled and the Acquisition Completion took place on 6 October 2020.
Upon the Acquisition Completion, the Group holds a total of 70% equity interest in the Target Company and the Target Company became an indirect non-wholly owned subsidiary of the Company. Accordingly, the financial results of the Target Group will be consolidated into the Company’s consolidated financial statements.
The Company will make further announcement to update its Shareholders and investors upon fulfillment of the Profit Guarantee as and when appropriate.
By order of the Board ICO Group Limited Leong Yeng Kit Chairman and Executive Director
Hong Kong, 6 October 2020
As at the date of this announcement, the executive Directors of the Company are Mr. Leong Yeng Kit and Ms. Lee Pei Ling; and the independent non-executive Directors of the Company are Mr. Gan Cheng Khuan, Ms. Yvonne Low Win Kum and Mr. Chiu King Yan.
* For identification purposes only