Gelonghui June 29?01163.HK issued an announcement and the board of directors was informed by Westel and Taschh that it had recently entered into a sale and purchase agreement with the buyer, under which Westel and Taschh agreed to sell 30 million shares and 60 million shares to the purchaser, accounting for about 4.02% and 8.03% of the issued share capital of the company at the date of this announcement, respectively, with a total cash consideration of HK $4 million and HK $6.6 million (that is, approximately HK $0.1333 and HK $0.11 per share).
The sale was completed on June 29, 2023. Upon completion of the disposal: (I) Westel remains the controlling shareholder of the Company; (ii) Taschh ceases to be the substantial shareholder of the Company; and (iii) none of the purchasers becomes the substantial shareholder of the Company.