Qiansheng Group Holdings (08475) announced that on January 18, 2024 (after the trading period), the company signed a sales agreement with the seller Lo Wai-leung. According to this, the company agreed to buy and the seller agreed to sell 765,000 shares of the target company PDR's Dining Limited (accounting for 51% of the total number of issued shares of the target company), at a total cost of HK$1 million.
According to the announcement, the acquisition is in line with the Group's main business operations and will enable the Group to expand its catering business to the Western food business in Hong Kong. The board of directors has reviewed the target company's business and is confident about the target company's prospects. Based on the foregoing, the directors believe that the terms of the sales agreement and acquisition are based on general commercial terms, are fair and reasonable, and conform to the overall interests of the company and shareholders.