LET GROUP (01383) issued an announcement regarding Dongjun Co., Ltd., an indirect non-wholly-owned subsidiary of the company...
Zhitong Financial App News, LET GROUP (01383) issued an announcement regarding matters relating to the sale of G1 Entertainment Limited Liability Company (G1 Entertainment) by Dongjun Co., Ltd. (Dongjun), an indirect non-wholly-owned subsidiary of the company, to an independent third party buyer (buyer) registered in the Russian Federation at a cost of US$116 million (which can be adjusted). Dong Jun (as the seller) and the buyer have already announced in January 2024 A binding agreement on the sale was signed on the 15th. As the ongoing conflict between Russia and Ukraine and the uncertainties brought about by the relevant sanctions imposed on the Russian Federation are adversely affecting the operation and prospects of G1 Entertainment, the sale will continue. The company will make further announcements in due course after thorough consideration and evaluation.
Furthermore, trading of the company's shares continues to be suspended.