Summary by Moomoo AI
Power Development Group Limited announced on 7 February 2024 that it has entered into a supplemental agreement with the Seller and Taiyuan and Tai regarding the acquisition of the Target Properties and Equity. Pursuant to the Supplemental Agreement, the Buyer has the right to terminate the Agreement if the delivery is not completed on or before 30 September 2024. In addition, if the debt owed by Taiyuan and Tai at the time of delivery exceeds the previous valuation, the seller must compensate for the excess debt by reducing the share price and providing additional property. All other terms remain unchanged except for changes to the above terms. The board members of Force Development consist of three executive directors, one non-executive director and three independent non-executive directors.