This is the document that confirms the sale for £10.78m
BIRMINGHAM SPORTS HOLDINGS LIMITED
伯明翰體育控股有é™å…¬å¸
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2309)
DISCLOSEABLE TRANSACTIONS -
COMPLETION OF DISPOSAL OF INTERESTS IN A SUBSIDIARY
AND
EXECUTION OF THE VARIED LEASE AGREEMENT
Reference is made to the announcement of Birmingham Sports Holdings Limited (the "Company") dated 31 March 2021, in relation to, among others, the Company's disposal of interests in a subsidiary and the entering into of a varied lease agreement (the "Announcement"). Unless the context requires. otherwise, capitalised terms used herein shall have the same meanings as those defined in the Announcement.
COMPLETION OF THE DISPOSAL
The Board is pleased to announce that all conditions precedent the Sale and Purchase Agreement have been fulfilled and Completion took place on 7 June 2021 as agreed in accordance with the terms of the Sale and Purchase Agreement. The amount of the Sale Loan as at Completion was approximately GBP10.78 million (equivalent to approximately HK$117.1 million). The Consideration for the sale I purchase of the Sale Shares was approximately GBP0.02 million (equivalent to approximately HK$0.2 million). Immediately after the Completion, BCSL ceased to be a subsidiary of the Company and the Company no longer hold any interest in the shares of BCSL.
EXECUTION OF THE VARIED LEASE AGREEMENT
On 7 June 2021, BCSL and BCFC entered into the New Deed of Variation and the Varied Lease Agreement, the principal terms of which are detailed in the Announcement.
For illustration purpose only, conversion of GBP into HKS in this announcement is based on the exchange rate of GBPI to HK$10.86.
By Order of the Board
Birmingham Sports Holdings Limited
Zhao Wenging Chairman
Hong Kong, 7 June 2021
As at the date of this announcement, the Board comprises nine Directors, namely Mr. Zhao Wenging (Chairman), Mr. Huang Dongfeng (Chief Executive Officer), Mr. Yiu Chun Kong. Mr. Hsiao Chang Geng and Dr. Guo Honglin as Executive Directors; Mr. Sue Ka Lok as Non-executive Director; and Mr. Pun Chi Ping, Ms. Leung Pik Har, Christine and Mr. Yeung Chi Tat as Independent Non
executive Directors.