Summary by Moomoo AI
The Yagul Group issued a supplementary notice on 2 January 2024 detailing the sale of shares in a subsidiary. The transaction was originally announced on November 8, 2023, and the relevant procedures and filings have been completed shortly. The reserve was adjusted from the original 80,000,000 hryvnias to 100,000,000 hryvnias to settle the target company's debts and pay related expenses, but the total cost remained unchanged at 310,000,000 hryvnias. After the sale, Yahoo is expected to record a loss of about 371,209,182.75 ringgit. In addition, the Board confirmed that independent valuations were not taken into account when determining the price, taking into account factors such as the adverse situation in the Malaysian property market and the downturn in the international economy. The Board considers that this sale contributes to improving the Group's liquidity position and is in the overall best interests of the Company and its shareholders.