The company announced a major asset restructuring plan, whereby it plans to issue shares and pay cash to purchase all of Zhuhai Pantum Electronics Co., Ltd.
The notice states that Ninestar Co., Ltd. plans to issue shares and pay cash for 100% equity in Zhuhai Pantum Electronics Co., Ltd. (Pantum Electronics).
To complete the transaction the company has suspended trading from 22 July in accordance with all relevant regulations. During the trading suspension period, the company will strictly follow the relevant laws and regulations and it is required to perform information disclosure obligations in a timely manner, and publish an announcement on the progress of relevant matters every five trading days.
After the completion of this reorganisation, Ninestar Co., Ltd. will hold 100% of Pantum Electronics. The reorganisation plan was approved by the shareholders.
