This is a voluntary announcement made by the Company.
On 10 May 2018, the Purchaser, a wholly owned subsidiary of the Company, entered into the Agreement to acquire, among others, approximately 91.8% equity interest in the Water Supply Company at the consideration of approximately RMB174.5 million in cash.
To the best of the Directors°¶ knowledge, information and belief, and after making all reasonable enquiries, the Vendors are Independent Third Parties.
The Water Supply Company is principally engaged in water supply in Xinzhou District, Wuhan, Hubei Province, PRC. The designed daily water supply capacity of the Water Supply Company is approximately 96,000 tonnes.
The Group is currently providing water supply services in multiple locations in Hubei Province. The Company is of the view that the Acquisition will further strengthen its water supply business in Hubei Province.