TC

28/11/2014 09:51

TeleEye controlling holders to sell stake at 204% premium

    TeleEye Holdings (08051) said its controlling shareholders Chan Chok Ki, Etin Tech Limited, Etin City Limited, Ma Chi Kit, Ho Ka Ho and Chan Cheung Fat entered into a memorandum of understanding with an independent third party to sell 60.24% equity interest in TeleEye to the potential purchaser at an indicative price of HK$18.07 per share.
  The indicative price represents a premium of 204% to the closing price of HK$5.95.
  If the possible transaction materialises, the potential purchaser will be required to make a mandatory unconditional general offer for all the shares of TeleEye in cash.

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