We refer to our announcements dated 5 October 2017, 4 January 2018 and 2 March 2018 in relation to the heads of agreement for the Proposed Acquisition.
The Board of Directors (“Board”) of Favco wishes to announce that the Company had on 28 March 2018 entered into a conditional share purchase agreement (“SPA”) with the vendors in relation to the Proposed Acquisition.
Upon completion of the Proposed Acquisition, Favco shall hold 70% equity interest in each of the Target Companies, while the Vendors for each of the Target Companies shall hold the remaining 30% in accordance with their respective current shareholding proportions.
Please refer to the attachment for further information.
This announcement is dated 28 March 2018.
Please refer attachment above.
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