Gelonghui, Feb. 22丨LET GROUP (01383.HK) and Kaisheng Holdings (00102.HK) announced that on January 15, 2024, Dong Jun (as seller) and Aktiv (as buyer) entered into an agreement for the sale and purchase of sales shares (i.e. sale share 1 and sale share 2) (equivalent to the total issued share capital of G1 Entertainment). The purchase price of the sale shares was US$116 million. According to Chapter 14 of the listing rules, since the applicable percentage of the sale was over 75% It constitutes (among others) LET and Kaisheng each a very significant sale item.
On February 19, 2024, Dongjun received a notice from Aktiv “Unilateral Non-Judicial Procedure Denying (Withdrawing from Enforcement) of the Agreement, seeking to terminate the agreement.
LET and Kaisheng will seek legal advice on the termination notice and will make appropriate announcements in due course, including (including) an announcement to resume trading of shares (LET) and shares (Kaisheng).