Reference is made to the Company’s announcement on 3 July
2020.
The Board of Directors of Hua-An wishes to announce the following:
(a) The Company, Dr. Wan Muhamad Hasni Bin Wan Sulaiman, Nong You Hua, Satriya Bin
Suetoh (collectively referred to as the “Vendors”) and HK Aerospace had on 7 August 2020
entered into a Deed of Revocation to revoke and rescind the Subscription Agreement dated
3 July 2020 in relation to 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
Subscription Agreement) for a total purchase consideration of USD10.0 million, subject
to the terms and conditions as stipulated in the Deed of Revocation;
(b) The Company and the Vendors had on 7 August 2020 entered into a Deed of Revocation
to revoke and rescind the Share Purchase Agreement dated 3 July 2020 in relation to 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, subject to the terms and conditions as
stipulated in the Deed of Revocation; and
(c) The Company and the Vendors had on 7 August 2020 entered into a new Share Purchase
Agreement for the proposed acquisition of 20,000 ordinary shares in HK Aerospace,
representing the entire equity interest in 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 7 August 2020.
Please refer attachment below.
