[ET Net News Agency, 13 December 2013] Alltronics (00833) said it was informed by
chairman and controlling shareholder Lam Yin Kee that he entered into a memorandum of
understanding with an independent third party for a possible acquisition of shares held by
him.
Lam currently holds about 69% equity interest in Alltronics. Under the MOU, the
potential purchaser may acquire no less than 51% of the total issued share capital of
Alltronics, which if materialized and completed, will lead to a mandatory offer, and
existing senior management of Alltronics can remain in office for not less than 3 years.
Trading in shares of Alltronics will be resumed this morning. (HL)