HUALIEN INTERNATIONAL (00969.HK) ANNOUNCED THAT CHINESE SHAREHOLDERS HAVE AGREED TO SELL CREDITOR RIGHTS TO INDEPENDENT THIRD PARTY GUANGKEN FOR A TOTAL COST OF APPROXIMATELY $1.38 MILLION. Upon completion, Kwong Kene and its consistent shareholders jointly hold 50.2% of the company's share capital and are subject to a mandatory full purchase offer at a price of $0.156 per share, a discount of 3.11% compared to earnings before discontinuation. Involved up to $1.7 million.

Guangken is wholly owned by the Ministry of Agriculture and Rural Affairs. Its main business activities involve the production and operation of rubber, sugar cane, Chinese medicinal materials, etc. Intention to maintain the listed position of the company after the closing date of the contract.

The company's shares have been requested to resume trading on Friday (21st).