Glorious Sun Leading shareholders acquire Australia losing company

Glorious Sun Enterprises (0393) announced to sell all the shareholding of Old Garage, the Australia clothes retail company, to the company indirectly held by its leading shareholder and director Yeung Chun fan and Yeung Chun Ho at HK$28.35 mln. Deducting about HK$28.35 mln shareholder loans that Old Garage owed Glorious Sun, the actual selling price is only HK$8.1. The dealing will be finished on August 15.

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