Asset Acquisitions and Disposals::COMPLETION OF PROPOSED ACQUISITION OF INTEREST IN CORE POWER (FUJIAN) NEW ENERGY AUTOMOBILE CO., LTD

Issuer & Securities

Issuer/ Manager
MIYOSHI LIMITED
Securities
MIYOSHI LIMITED - SG1J04885492 - M03
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
24-Aug-2016 18:18:10
Status
New
Announcement Sub Title
COMPLETION OF PROPOSED ACQUISITION OF INTEREST IN CORE POWER (FUJIAN) NEW ENERGY AUTOMOBILE CO., LTD
Announcement Reference
SG160824OTHRQX3U
Submitted By (Co./ Ind. Name)
SIN KWONG WAH ANDREW
Designation
CEO
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Miyoshi Limited (the Company and together with its subsidiaries the Group) refers to its announcement on 20 June 2016 entitled Proposed Joint Venture with Core Power (Fujian) Electric Co., Ltd. and Acquisition of 15% Shareholding Interest in Core Power (Fujian) New Energy Automobile Co., Ltd (the Earlier Announcement). Unless otherwise defined, the capitalized words and phrases used herein shall have the same meaning as ascribed to them in the Earlier Announcement.

The Board is pleased to announce that Completion has taken place on 24 August 2016 in accordance with the terms and conditions of the JVA. Pursuant to the terms and conditions of the JVA, the Company has also completed its disposal of all its shares in GGL, representing 55% of the total issued share capital of GGL.

Following Completion, the Company is the holder of 15% shareholding interest in the JV Company, and GGL has ceased to be a subsidiary of the Company.

The Board will make the necessary announcements and keep shareholders informed of any developments.

BY ORDER OF THE BOARD

Sin Kwong Wah Andrew
Executive Chairman and Chief Executive Officer
Miyoshi Limited

24 August 2016

Attachments

20160824-CompletionOfCorePowerJV.pdf
Total size =337K