Summary by Moomoo AI
Alco Holdings Limited issued an announcement on the distribution of new shares on 12 January 2024. The distribution, originally completed on 6 February 2024, has lapsed due to failure to meet the prerequisites in the distribution agreement. The Board of Directors stated that the termination of the distribution agreement will not have a material adverse effect on the Company's operating and financial condition and will continue to seek appropriate time to conduct the share distribution. Upon termination of the Assignment Agreement, all relevant rights, obligations and responsibilities will cease and the Assignment Agent will no longer be liable. The members of the Company's Board of Directors include Executive Directors Mr. Ho Ze Yu and Mr. Leung Ya-Ong, Non-Executive Director Mr. Yang Min, and Independent Non-Executive Directors Mr. Chu Kai Qin, Mr. Lin Zi Ying, Mr. Tang Sha Kin, Mr. Tang Chao Man and Ms. Mak Wen Xue.
