SinoDaan Co., Ltd. signed an equity purchase agreement to acquire 4.18% stake in Guangdong Ro-Info Development Co., Ltd. from Guangzhou Longyue Communication Network Equipment Co., Ltd. and GD Newsway Travel&Leisure Inc for CNY 3.6 million.
January 14, 2019
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SinoDaan Co., Ltd. (SZSE:300635) signed an equity purchase agreement to acquire 4.18% stake in Guangdong Ro-Info Development Co., Ltd. from Guangzhou Longyue Communication Network Equipment Co., Ltd. and GD Newsway Travel&Leisure Inc for CNY 3.6 million on January 13, 2019. Payment in the transfer operation will be made in one single installment within 7 days since obtaining all relevant documents for the delivery of underlying equity. In a related transaction, Guangdong Ro-Info Development Co., Ltd. announced that it will receive CNY 4.95 million in equity round of funding from SinoDaan Co., Ltd. (SZSE:300635) on January 13, 2019. After the completion of both the deals, SinoDaan will hold 10% stake in Guangdong Ro-Info while stake of Guangzhou Longyue Communication Network Equipment Co., Ltd. and GD Newsway Travel&Leisure Inc will reduce from 60% and 40% to 54% and 36% respectively. The transaction was approved by the 4th meeting of the 3rd directorate of SinoDaan.
SinoDaan Co., Ltd, formerly Guangdong Daan Project Management Co., Ltd., is a China-based company principally engaged in the provision of engineering project management services. The Companyâs main business is engaged in the supervision of engineering project, among which the activities mainly include project management, such as telecommunication construction supervision, civil engineering construction, tendering agency, agency construction management and engineering consulting, among others.
SinoDaan Co., Ltd. signed an equity purchase agreement to acquire 4.18% stake in Guangdong Ro-Info Development Co., Ltd. from Guangzhou Longyue Communication Network Equipment Co., Ltd. and GD Newsway Travel&Leisure Inc for CNY 3.6 million.