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An update from Automated Systems Holdings Limited ( (HK:0771) ) is now available.
Automated Systems Holdings Limited has agreed to dispose of its interest in security authentication specialist i-Sprint Holdings to independent third party Secure Trust Technologies, a move the board says will allow both companies to concentrate on their respective core strengths and improve operational flexibility in their service regions. As part of the transaction, wholly owned subsidiary ASL Security has entered into a deed of guarantee with other guarantors in favour of the buyer, providing a several liability guarantee capped at US$34.47 million out of a total guarantee limit equal to the US$87.94 million consideration, while the group expects to deploy roughly US$24.8 million in cash proceeds for regional business development; the guarantee arrangement qualifies as a major transaction under Hong Kong listing rules and will be approved by written consent from the controlling shareholder in lieu of a general meeting, with a circular to follow.
The most recent analyst rating on (HK:0771) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Automated Systems Holdings Limited stock, see the HK:0771 Stock Forecast page.
More about Automated Systems Holdings Limited
Automated Systems Holdings Limited is a Hong Kong-listed technology group that operates through subsidiaries in information technology and related services. Its associate i-Sprint Holdings has been involved in security authentication solutions, with operations across various regional markets.
Average Trading Volume: 161,480
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$744.5M
Learn more about 0771 stock on TipRanks’ Stock Analysis page.