Summary by Moomoo AI
The Space Group announced on 22 March 2024 that its wholly-owned subsidiary, Space Construction (BVI) Limited, has entered into a sales agreement with Leung Li-kuen and Li Hingli, agreeing to sell 66,000,000 shares of Hang Yu Gold Holding at a total price of HK$4,600 million. The transaction will reduce Hengyu Group's shareholding in Hengyu Gold Control from 93.02% to 31.63%, making Hengyu Gold Control its affiliate. Leung Li-kuen and Li Hingli will purchase 33,000,000 shares, each paying HK$2,300 million. Upon completion of the transaction, Leung Li-kuen will hold 32.67% of Hang Yu Gold Control, while Li Xingli will hold 30.70%. The Board considers that this sale will reduce the Group's financial risks and have a positive impact on the future outlook. Under the Listing Rules, this transaction is a Discloseable Transaction.