Lai Sun International (00191) and Lai Sun Development (00488) jointly announced that on May 3, 2024 (after the trading period), the seller (Boom Goal Limited, a wholly-owned subsidiary of Lai Sun Development) and Star Gallery Limited (Star Gallery Limited) signed an offer letter. The buyer has agreed to buy sales shares (all issued share capital of the target company) and undertake the transfer of sales loans. The seller has agreed to sell shares and Lai Sun Development has agreed to sell tangible assets at the purchase price (which can be examined for physical assets) Net worth adjustment and completion of net tangible asset value adjustment) Transfer the sales loan to the buyer. The total purchase price of sales shares and sales loans payable by the buyer to the seller in connection with the sale should be HK$215.8 million.
After completion, the target company will no longer be a subsidiary of Lai Sun Garment and Lai Sun Development, and the target company's financial results will no longer be consolidated into the financial statements of Lai Sun Garment Group and Lai Sun Development Group.
According to reports, the target company is Hong Kong Hill Limited (Hong Kong Hill Limited), a limited company incorporated in Hong Kong.