Imperial Financial Group (08029) issued an announcement. On December 22, 2023, the company's indirect wholly-owned subsidiary...
According to the Zhitong Finance App, Imperial Financial Group (08029) announced that on December 22, 2023, Fuxi Holdings Co., Ltd., an indirect wholly-owned subsidiary of the company, plans to subscribe for 10,400 newly subscribed shares from Unlimited Technology International Co., Ltd., accounting for about 51% of the target company's expanded share capital at a cost of HK$10,400.
According to the announcement, all prerequisites under the subscription agreement have been reached and the subscription agreement was completed on April 22, 2024. The contracting parties also entered into a financing agreement on the same day in accordance with the subscription agreement.
Prior to the completion of the subscription process, the target company declared dividends and disbursed a total of HK$5.5 million from the target company's distributable reserves on December 31, 2023, and an average of HK$2.75 million each to Chen Wenhui and Wong Ka-wah, the current shareholders and directors of the target company. The dividend is offset by the actual amounts due by Mr Chan and Mr Wong. On April 22, 2024, the target company received relevant commitments from Mr. Chen and Mr. Wong regarding the outstanding amount. As of the date of this announcement, Mr Chan and Mr Wong still owed the target company a total of approximately HK$4 million after the dividend was offset.