General Announcement::UPDATE ON THE PROPOSED DISPOSAL OF THE ENTIRE INTEREST IN ITS TWO WHOLLY-OWNED SUBSIDIARIES
Issuer & Securities
8TELECOM INTL HOLDINGS CO LTD
8TELECOM INTL HOLDINGS CO LTD - BMG3087Y2074 - AZG
Date &Time of Broadcast
Announcement Sub Title
UPDATE ON THE PROPOSED DISPOSAL OF THE ENTIRE INTEREST IN ITS TWO WHOLLY-OWNED SUBSIDIARIES
Submitted By (Co./ Ind. Name)
EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below)
Reference is made to the proposed disposal of 8Telecom International Holdings Co. Ltd. ("8Telecom")'s entire interest in its wholly-owned subsidiaries, East Jade International Limited and Aim Tech Network Investment Limited ("Proposed Disposals") as announced on 21 August 2015.
Manfaith Investments Ltd. ("Manfaith"), the purchaser of the Proposed Disposals, has informed 8Telecom's board of directors that it has appointed KGI Fraser Securities Pte. Ltd. as the placement agent to dispose the balance of the shares it owns in 8Telecom [other than the 29% already contracted to Signa Air Limited, as announced by 8Telecom on 10 September 2015]. This appointment is part of the requirement for Manfaith to fully dispose of its entire 71.728% stake in 8Telecom as stated as one of the conditions precedent of the Proposed Disposals.
BY ORDER OF THE BOARD
Mr Ye Tianyun
Executive Chairman and Chief Executive Officer
15 September 2015