Gelonghui, December 27, 丨 China Food Min'an (08283.HK) issued an announcement. On December 26, 2023, the buyer (China Food Tai'an (Shandong) Technology Consulting Co., Ltd., an indirect wholly-owned subsidiary of the company) entered into a sales agreement with the seller. According to this, the seller agreed to sell the shares to be sold (100% of the target company's registered capital) at a total cost of RMB 19 million, which must be paid in cash and through the distribution and issuance of approximately 358 million shares under general authorization (recorded as payment).
Approximately 358 million compensation shares are equivalent to approximately 17.88% of the company's current issued share capital and approximately 15.17% of the issued share capital which was expanded through allotment and issuance of consideration shares immediately after completion. The consideration shares will be distributed by the company at the issue price of HK$0.057 per share and issued to the seller (recorded as fully paid) at a settlement price. This price is approximately 18.57% off the closing price of HK$0.07 per share reported by the Stock Exchange on the last trading day.
The target company (Shanghai Tianji Zhongwei Industrial Development Co., Ltd.) is a food supply service provider, mainly engaged in providing high-quality food supply, fresh food takeout and other services, and operating a supply chain platform for agricultural products.