Lamex to pay HKD200 mln to buy 73% of Select Right from Kok Kin Hok

Lamex Holdings Ltd. (0312) indicated that it planned to buy a 73 percent stake of Select Right Developments Ltd. from its chairman and major shareholder, Kok Kin Hok for HKD200 million, among which HKD100 million will be paid in cash. The remaining will be paid by 450 mln new Lamex shares at 0.10 hkd per share. After the acquisition, Kok's stake in Lamex will increase to 33.7 percent from the present 27.2 percent. He will continue to hold the remaining 27 percent stake in Select Right.

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