(Infocast News) CMEC (01829) announced that China SUMEC Automotive Industry Consulting Development and the company entered into the merger agreement pursuant to which the offeror and the company will implement the merger subject to the terms and conditions of the merger agreement. After the merger, the company will be merged into and absorbed by the offeror.
Pursuant to the merger agreement, the offeror will pay the cancellation price in the amount of HK$3.7 per H Share to the H Shareholders in cash and in the amount of RMB3.082692 per domestic share to the domestic shareholders.
The company will apply for withdrawal of the listing of the H shares from the Stock Exchange.
Trading in the shares of CMEC will be resumed at 9:00 a.m. today.