Luen Cheoun subsidiary acquires web site for HK$4.4

MicTech International, subsidiary of Luen Cheong Tai International(1190) agreed to acquire Urban Edge Services from independent third party for HK$4.4. The company said HK$3.19 mln would be paid for acquisition of Urban Edge and HK$1.2 mln would be paid for the debts. MicTech will place and issue 22 mln shares at HK$0.2 each for the transaction, amounting for 5.6% of the enlarged total.

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