By BFN News | 12:21 PM | Monday 22 December, 2014
LED International Holdings has entered into a conditional agreement under which it or a member of its Group will acquire the majority of the issued share capital of Shenzhen Ruihetai Industry ("RHT") from Ms. Li Sai Ying and Mr. Lin Zhong (together, at a maximum consideration of approximately £1,136,000. The consideration is to be satisfied by issue and allotment of new shares in LED and through a three-year non-interest bearing convertible loan note. LED's chief executive officer, Stephen Chan, said: "Shenzhen Ruihetai has a very strong distribution network through which we will be able to promote our green products and diversify our product offerings. "Also, the readiness of the vendors in committing to a profit guarantee is a testament to their confidence in Shenzhen Ruihetai and its future potential." At 12:21pm: (LON:LED) LED International Holdings Ltd share price was +5.5p at 107.5p Story provided by StockMarketWire.
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