Smartech Digital finishes acquiring Sky Dtatmann from Asia Tele -Net & Technolog

Smartech Digital(8068) announced that it must issue 700 mln new shares, 14.9% of Smartech Digital shareholding, to Asia Tele-Net, if it wanted to finish the acquisition of Sky Datamann from Asia Tele-Net & Technology by issuing new shares. The slumping of Smartech Digital stock price dragged the new issue price down sharply. The dealing could be finished at last without revising the former agreement. But the acquisition cost reduced to HK$18.2 mln, 13% of the former cost of HK$140 mln.The company announced at the same time that it didn¡¦t know the reasons for the rising transaction of yesterday.

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