Ad-hoc-News
Public disclosure of inside information pursuant to Article 17 MAR
ZhongDe negotiates on the sale of all shares in Chung Hua Environment Protection (Holding) Group Ltd.
Frankfurt, 27 September 2016
ZhongDe Waste Technology AG (“ZhongDe” or the “Company”) is in negotiations on the sale of all shares in its wholly owned subsidiary Chung Hua Environment Protection (Holding) Group Ltd., Hong Kong (“Chung Hua”), including all shares in various Chinese project companies held by Chung Hua with a potential purchaser, i.e. CAPITAL YIELD GROUP LIMITED. The project companies carry out the BOT (Build, Operate and Transfer) projects regarding waste-to-energy projects in China acquired by ZhongDe.
By means of a general commercial understanding, the Company and the potential purchaser have agreed on a valuation of Chung Hua of RMB 900,000,000 which equals approx. EUR 121,000,000.
The Company and the potential purchaser are still in negotiations on the further terms and conditions of a potential sale. The supervisory board of ZhongDe has generally agreed to the continuation of the negotiations on the sale of the shares in Chung Hua with the potential purchaser. However, the final share purchase agreement on the sale of the shares in Chung Hua, which is still in negotiations, requires the final approval of the supervisory board.
Additional Information
ISIN: DE000ZDWT018
WKN: ZDWTT01
Listing: Regulated Market (Prime Standard) at Frankfurt Stock Exchange
Contact
ZhongDe Waste Technology AG
David Chen
Chief Representative
Messeturm 25th floor
Friedrich-Ebert-Anlage 49
60308 Frankfurt
Tel.: +49 (0) 69 50956 5655
Fax: +49 (0) 69 50956 5520
Email: david@zhongdetech.com
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