Summary by Moomoo AI
On July 23, 2024, Town Health International Medical Group Limited ("the Company") issued an announcement mentioning multiple previous announcements regarding the acquisition of all equity and excess profits guarantee of Central Medical Holdings Limited and its subsidiaries ("the Target Group"). The Company pointed out that because the excess profit guarantee for the fiscal year ending on March 31, 2023 of the Target Group was not achieved, the seller needs to pay the buyer about HK$97.95 million in compensation. However, the seller did not fulfill its payment obligation after the payment deadline on April 30, 2024. Therefore, the Company filed legal proceedings against the seller on June 4, 2024 to recover the compensation, interest, legal fees, and other costs. Currently, due to the confidentiality of the legal proceedings, the Company cannot disclose more details and will update the progress of the event in accordance with the listing rules.
