Friday, April 5, 2013

Allied Technologies

Allied Technologies: Group has entered into a compensation agreement with Changqiao Township Office, in relation to the compulsory acquisition of Group's properties in Suzhou, as announced on 4 Mar 2013. The compensation payable to Allied Suzhou is an aggregate amount of Rmb209.6m in cash, for the land with aggregate area of approximately 39,132sqm, gfa of approximately 59,017sqm. An amount of Rmb179.4m for the assets, and the other Rmb30.2 for the expenses and losses which Allied Suzhou may incur in its relocation to a new location and the suspension of production and ancillary costs. The Buildings are currently used by Allied Suzhou for manufacturing operation and administrative purposes. NTA per share after the completion of the land acquisition, will increase to 12.69¢, from 9.09 as at 31 Dec 2012; EPS loss per share of 1.66¢, post completion will improve to 2.01¢.

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