On March 6, Konka Group Co.Ltd(000016) ( Konka Group Co.Ltd(000016) ) disclosed that the company decided to terminate the issuance of shares and pay cash to purchase the equity of the two companies.
It is understood that Konka Group Co.Ltd(000016) originally planned to purchase 100% equity of Ming hi tech by issuing shares, and planned to purchase 100% equity of haisida power by issuing shares and paying cash, and issue shares to the controlling shareholder OCT Group Co., Ltd. to raise supporting funds.
As for the reasons for the termination of the above transaction, Konka Group Co.Ltd(000016) said that since the disclosure of the transaction plan, the company and relevant parties have orderly promoted and implemented various works of the transaction. However, due to the failure of the company and the shareholders of haisida power to reach an agreement on some core terms of the transaction, the company decided to terminate the transaction after careful study.
