Societe Generale IoT (09916) issued an announcement on matters relating to the acquisition of all issued share capital of Henan Zhengzhiyue Real Estate Co., Ltd. All conditions of the agreement and the general framework agreement for construction have been reached and completed on December 26, 2023.
After completion, the target company became a wholly-owned subsidiary of the company, so the target company's financial data has been incorporated into the group's accounts. According to Chapter 14A of the Listing Rules, the construction services provided by Zensun Development Group to the Group constitute the Company's continuing connected transactions and are governed by the General Construction Framework Agreement.