Fangyuan Life Service (09978) issued an announcement. The board of directors of the company was informed by Mr. Fang Ming, the controlling shareholder and non-executive director of the company. On January 24, 2024, Mr. Fang Ming and Mansion Green Holdings Limited (Mansion Green) signed a share transfer agreement with Huiyu Investment Holdings Limited (Huiyu Investment, a company wholly owned by Mr. Huang Peng).
According to the share transfer agreement, Mr. Fang Ming 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 total issued share capital of the company at the date of this announcement. The cash cost was HK$4.998 million (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 (Aspiring Vision), Lishun Group Limited (Lishun) and Mansion Green entered into a share exchange agreement on January 24, 2024. 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 Shares account for 16.20% of the company's total issued share capital.
At the date of this announcement, Mansion Green held 216 million shares, accounting for 54.00% of the company's total issued share capital, while Mansion Green owned 70% and 30% respectively by Lishun and Aspiring Vision. Aspiring Vision is a company wholly owned by Ms. Xie Lihua, the company's controlling shareholder and executive director.
According to Mr. Fang Ming, Huiyu Investment is wholly owned by Mr. Huang Peng. He is Mr. Fang Ming's business partner and mainly invests in and operates real estate-related companies, civil engineering and construction companies, and mining companies.