Glonghui November 3 | Global Credit Group (01669.HK) announced that on November 3, 2023, the company entered into a sales agreement with the seller. Based on this, the company agreed to acquire the nominee for HK$15 million from the seller.
The club is a company limited by guarantee incorporated under the laws of Hong Kong. A club is a club owned by a non-profit membership. The club is mainly engaged in promoting the development of golf in Hong Kong.
The club is one of the oldest golf clubs in Asia. It was founded in 1889. With nominee membership, the Group will be able to use the club's facilities as a social space, as well as a way for the Group to promote its business and expand its customer base. Furthermore, the club has a limited number of nominee memberships, making nominee memberships very valuable. Based on historical market prices and their position in the golf industry, nominee membership has secondary market and resale value.