Panva will issue approximately 773 million new shares to Towngas at a price of HK$4.18 $0.54 per share, representing 45% of PanvaÆs enlarged share capital. Consequently, Towngas will become the largest shareholder in Panva.
Panva will also take over HK$568 million of shareholder loans on the books of the target companies. HK$476.7 million of the loans are non-interest bearing while the rest carry interest of between 4.25%-5.85% per annum. HK$352 million of the loans have no definite repayment term while...
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