Moya Asia

Moya Asia - Co. on trading halt, pending announcement. Although we note that latest news on co. was few wks back, where the grp on 5 Jan13 entered into a sale and purchase agreement with SAIC (SPA) to acquire the 2nd 50% Shares from SAIC (Share Acquisition) for a cash consideration of RMB11.7m. As stated in the announcement, the consideration payable to SAIC shall be borne by UEL pursuant to the terms and conditions of the Transaction Agreement. The Co is not required to bear any cost or expense of the Share Acquisition. Completion of the Share Acquisition is expected to take place within 30 days from the date of the SPA after all relevant registration procedures in the PRC for the registration of the Cos the registered holder of the 2nd 50% Shares are completed.