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Ourgame (06899) unit sells 5% in Tianjin Zhongqi Weiye
07 Dec 2017
(Infocast News) Ourgame International (06899) announced that Tianjin Lianzhong Lequ Technology Development has agreed to sell 5% equity interest in Tianjin Zhongqi Weiye Sports Development (the Target Company) to Ningbo Meishan Bonded Port Area People’s Network One Cultural Industry Equity Investment Partnership (L.P.) for RMB35 million. Upon completion, the seller's interest in the Target Company will decrease from 45.6% to 40.6%.

The seller is owned as to 45.6% by Ourgame International before completion of the disposal.

The purchaser is granted an option to acquire a further 5% equity interest in the Target Company at a cash consideration of RMB35 million from the seller or a company designated by the seller within 12 months after completion of the disposal.

(WL)
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