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AVIC Digital: Signs a Letter of Intent to Acquire 54.089% of Tianyuan Electrical Engineering’s Shares

K-LinePoet
Pan-Ya Weitou Announcement: the Company has entered into a “Share Acquisition Letter of Intent Agreement” with Mr. Zhang Yuqian, the actual controller of Tianyuan Electrical and other shareholders. Under the agreement, Pan-Ya Weitou plans to acquire 54.089% of Tianyuan Electrical’s shares in total held by Mr. Zhang Yuqian and other shareholders of Tianyuan Electrical by paying cash in order to obtain a controlling interest in Tianyuan Electrical. This transaction still needs to complete the necessary internal and external decision-making and approval procedures, and there is uncertainty as to whether the final transaction will be completed.
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