TERMBRAY IND (00093.HK) Announcement of 30 April 2024, Buyer Termbray Electronics (B.V.I.) Limited (a wholly-owned subsidiary of the company) entered into a sales agreement with the seller Tang Mei Lan. According to this, the seller agreed to sell and the buyer agreed to acquire the entire issued share capital of the target company Alpha Moment Technology Co., Ltd. at a cost of HK$25,000 (adjustable).
The target company is an investment holding company that mainly engages in IT business in China through Chongqing Alpha and Shenzhen Alpha. Shenzhen Alpha is a wholly-owned subsidiary of the target company, while Chongqing Alpha is a branch established by Shenzhen Alpha.
Target Group is an IT company founded in 2021. It has a highly professional R&D team focusing on software development, big data establishment, data exploration and model development. Through self-developed systems, we provide business operation and development solutions for various industries. Furthermore, Target Group focuses on information security. It has obtained accreditation from an internationally recognized computer auditor (“CISA”), and has implemented sound internal controls and policies to ensure customer data security and compliance requirements.
Target companies can bring significant strategic value to the Group and enable the Group to reduce its reliance on external suppliers when developing IT systems.