UPDATE ON THE DISPOSAL OF EUROPTRONIC SUZHOU CO.,LTD AND ITS LAND The Directors of Europtronic Group Ltd (&ldquo the Company&rdquo ) wish to update shareholders on the following: The Company has received a deposit of RMB 20mil from the potential buyer of Europtronic Suzhou Co., Ltd. The Group has also pledged 10% of Europtronic Suzhou Co., Ltd to the potential buyer as collateral for the RMB 20mil deposit. Due diligence exercise of this deal is still on-going. As per the Company announcement on 25 January 2016, the completion of the sale of Europtronic Suzhou Co., Ltd shall take place within 6 months from the date of the MOU, which is on 25 July 2016. The Wujiang local government has sent their professional team to value the land in the past few weeks. The board and management envisage the negotiation with local government to be completed in the next 3 to 4 weeks. The potential proceeds from the above disposal will be used to settle all the liabilities of the Company and the excess will be distributed to the shareholders, if any. Thus, the Company can only propose the exit offers to the minority shareholders after the details of the sales and purchase agreement of Europtronic Suzhou Co., Ltd or its land has been confirmed. The Board and management is doing its best to facilitate the completion of the above transactions but wish to highlight that there is uncertainty in both the final proceeds that the Company can receive and the successful execution to complete the deals. By Order of the Board Europtronic Group Ltd HUANG SHIH-AN Non-Executive Chairman 31 March 2016
perhaps going in around $0.005. Mus be careful thou... it has been in watchlist since 5 March 2014 so coming this March... either they ask SGX for extension or they will have to delist from SGX.
The outlook for Singapore PMI still in contraction..so for their last Q result... i predict will be still be negative NPAT or barely $500,000 or less
So dyodd.. : )
now only 0006
any reasons to scoop up or low goes lower?
coming ah , maybe reults better than last year
worth a bet , may come anytime ....watch out this crazy horse
worth a punt at current price level 0.007
