Gelonghui June 30Cornerstone Holdings (01592.HK) announced the proposed acquisitionPacific Mining IndustryFor all equity matters, the Sale and purchase Agreement has lapsed as the prerequisites have not been reached on or before the final cut-off date, and the parties to the Sale and purchase Agreement have not reached an agreement to further extend the final cut-off date as at the date of the announcement. Accordingly, the Sale and purchase Agreement has been terminated and null and void and ceases to have any effect, and the parties to the Sale and purchase Agreement shall not be liable to any other parties except any previous breach of the Sale and purchase Agreement.
The Board is of the view that the invalidation of the Sale and purchase Agreement does not have a significant adverse impact on the Group's business operations and financial position. As of the date of the announcement, negotiations on the proposed acquisition of the target company are still in progress and the company will make a separate announcement in accordance with the listing rules in due course.