The Board of Directors of Hua-An wishes to announce that Hua-An had on 3 July 2020
entered into the following:
a Subscription Agreement (“SA”) with Dr. Wan Muhamad Hasni Bin Wan Sulaiman, Nong You
Hua and Satriya Bin Suetoh (collectively referred to as the “Vendors”) and HK Aerospace
for the proposed subscription of 8,000 ordinary shares representing 28.6% of the
enlarged issued, fully diluted and paid up share capital of HK Aerospace (after the
enlargement of the share capital of HK Aerospace pursuant to the SA) for a total
purchase consideration of USD10.0 million; and
a Share Purchase Agreement with the Vendors for the proposed acquisition of 20,000
ordinary shares, representing the entire equity interest in HK Aerospace (before the
enlargement of the share capital of HK Aerospace) for a total purchase consideration of
USD25.0 million.
Please refer to the attachment for details of the announcement.
This announcement is dated 3 July 2020.
