Tianxing sale receipt of funds
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| Stock | Merchant House International Ltd (MHI.ASX) |
|---|---|
| Release Time | 9 Jan 2025, 4:54 p.m. |
| Price Sensitive | Yes |
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Merchant House International Receives Funds from Tianxing Sale
Key Points
- Funds of US$ 4,915,536 received from sale of 33.79% interest in Tianxing
- Sale completed through subsidiary Forsan Limited and buyer Tianjin Wuxi
- Announcement authorized by the Company's Board
Full Summary
Merchant House International Limited (the Company) has announced that its subsidiary Forsan Limited has now received US$ 4,915,536 into its account in final settlement of the sale of the Company's 33.79% interest in Tianxing. The Company had previously advised on 8 July 2024 that the funds from the sale were being transferred into a joint HSBC account held by Forsan Limited and the buyer of the interest, Tianjin Wuxi. The Company is pleased to confirm that the sale has now been completed, and the funds have been received. This announcement was authorized for issue by the Board of the Company.