On January 24, Ge Longhui Life Service (09978.HK) issued an announcement. The company's board of directors was informed by Mr. Fang Ming, the controlling shareholder and non-executive director of the company. On January 24, 2024, Mr. Fang and Mansion Green Holdings Limited signed a share transfer agreement with Huiyu InvestmentHoldings Limited (a company wholly owned by Mr. Huang Peng). According to the share transfer agreement, Mr. Fang and Mansion Green conditionally agreed to sell, while Huiyu Investment conditionally agreed to purchase 60 million shares of the company, accounting for 15.00% of the company's total issued share capital at the date of this announcement. The cash cost was HK$4,998,000 (i.e. HK$0.0833 per share).
A share transfer agreement cannot be implemented until the share exchange is completed. To facilitate the sale, Aspiring Vision Holdings Limited, Lishun Group Limited and Mansion Green entered into a share exchange agreement on January 24, 2024. Under this, Aspiring Vision conditionally agreed to transfer 30% of its shares in Mansion Green to Lishun in exchange for Mansion Green's transfer of 64.8 million shares to Aspiring Vision, accounting for 16.20 of the company's total issued share capital %
According to Mr. Fang, Huiyu Investment is an investment holding company incorporated in the British Virgin Islands on December 15, 2023. It is wholly owned by Mr. Wong. He is Mr. Fang's business partner, mainly engaged in investing in and managing real estate-related companies, civil engineering and construction companies, and mining companies.
The Board does not anticipate that the sale will have any significant adverse impact on the Group's operations.