DGAP-News: Haier Smart Home Co.,Ltd. / Key word(s): Miscellaneous
Announcement on the Acquisition of Assets from a Related Party against issuance of shares by a wholly owned subsidiary of the Company
Haier Kaos IOT Ecological Technology Co., Ltd. ("Kaos"), a wholly owned subsidiary of the Company, agreed with Haier Group to acquire the smart power & energy segment held by Haier Group at a consideration of RMB375,540,417 against issuance of registered capital of RMB74,434,124 to Haier Group. At the same time, Kaos agreed with Qingdao HaizhiHuiying Equity Investment Management Co., Ltd. (hereinafter referred to as "HaizhiHuiying"), which is also deemed to be a related party of the Company, that a private equity fund, to be established by HaizhiHuiying, subscribes for newly-increased registered capital of RMB67,827,236 of Kaos through capital contribution of RMB342,206,865 in cash in order to match Kaos's business expansion and financial demands, enhance Kaos's financial strength and to support the strategic development of Kaos's principal business.
The Board of Directors of the Company approved the Transaction, which is expected to be implemented until end of October 2019. Following the implementation of the Transaction, Haier Group and the private equity fund established by HaizhiHuiying will hold participations in Kaos of 6.40% and 5.83% respectively.
For further detailed information please see the "Announcement on Acquisition of Assets with Newly-increased Registered Capital and Introduction of Investors by Controlled Subsidiary and Related-Party Transaction" published on Company's website under http://www.haier.net/en/investor_relations/haier/gsgg/.
|Company:||Haier Smart Home Co.,Ltd.|
|Haier Industrial Park, Laoshan District|
|Phone:||+49 6172 9454 143|
|Fax:||+49 6172 9454 42143|
|ISIN:||CNE1000031C1, CNE000000CG9 (A-share),|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||835043|
|End of News||DGAP News Service|