TIME INTERCON (01729.HK): Completion Net Asset Value of 51% Acquisition at USD 68.4 Million
- On 15 September 2026, TIME INTERCON (01729.HK) announced that the completion net asset value of the target group as at the completion date of 31 July 2026, at approximately USD 68.4 million (equivalent to approximately HKD 532.2 million), has been agreed between the vendor and the Company pursuant to the sale and purchase agreement, with the final consideration for the acquisition at USD 34.9 million.
- The upward adjustment, being 51% of the excess, amounted to approximately USD 22.2 million.
- The final consideration does not exceed the maximum consideration of USD 40,000,000, and the upward adjustment is payable in cash on or before 29 September 2026 out of the net proceeds from the placing.
NewTimeSpace News: On 15 September 2026, Time Interconnect Technology Limited (stock code: 01729.HK) announced that, in respect of the acquisition of 51% of the entire issued share capital of Time Interconnect Singapore Pte. Ltd., the completion net asset value of the target group as at the completion date (31 July 2026) of approximately USD 68.4 million (equivalent to approximately HKD 532.2 million) has been agreed between the vendor and the Company pursuant to the sale and purchase agreement.
The announcement disclosed that the completion net asset value exceeded the initial net asset value of approximately USD 24.9 million (equivalent to approximately HKD 193.8 million) by approximately USD 43.5 million (equivalent to approximately HKD 338.4 million), and the upward adjustment, being 51% of such excess, amounted to approximately USD 22.2 million. The final consideration for the acquisition is USD 34.9 million, being the initial consideration of USD 12.7 million as adjusted by the upward adjustment, and does not exceed the maximum consideration of USD 40,000,000. The upward adjustment shall be paid in cash on or before 29 September 2026, being within ten business days from the date on which the vendor and the Company agreed and determined the completion net asset value, and will be funded by the net proceeds from the placing.
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