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Subsidiary FFE acquires public tender TELEEYE

15 Apr 2016 07:00

RNS Number : 2898V
Hon Hai Precision Industry Co Ld
15 April 2016
 

Subject: Subsidiary Foxconn (Far East) Limited acquires through public tender offer TELEEYE HOLDINGS LIMITED shares.

Date of events:2016/04/14

Contents:

1.Type of merger/acquisition (e.g.merger, consolidation, spin-off,

acquisition, or receiving assignment of shares):acquisition

2.Date of occurrence of the event:2016/04/14

3.Names of companies participating in the merger (e.g.name of the other

company participating in the merger or consolidation, newly established

company in a spin-off, acquired company, or company whose shares are

taken assignment of):TELEEYE HOLDINGS LIMITED

4.Purpose/objective of the merger/acquisition: Develop new business

5.Anticipated benefits of the merger/acquisition:

The Group aims to strategically diversify into new products and services as

engines for growth.

6.Scheduled timetable for consummation:2016/5/26

7.Basic information of companies participating in the merger:

TeleEye Group is primarily focused on the development, sales and marketing

of full range of hi-tech CCTV, DVR and digital surveillance equipment.

Website: http://www.teleeye.com/Eng/c_home.html

8.Do the directors have any objection to the present transaction?:

According to Hong Kong's regulation, once receiving the approval from

Securities and Futures Commission of Hong Kong, the company may

initiate the public tender offer.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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