Summary by Moomoo AI
New World Dev Limited ("the Company") announced that a special shareholder meeting will be held on August 22, 2024 in a mixed format to consider the proposal to sell 30% stake in Tendy Development Limited. The transaction is covered by the sales and purchase agreement signed by Total Partner Holdings Limited (the seller), Shine Through Holdings Limited (the buyer) and the Company on June 26, 2024, with a preliminary consideration of RMB 1,440,450,187, which is subject to adjustment. After the completion of the transaction, the Company will no longer hold any equity in the target group or the property. Independent financial adviser, BOCI Finance Limited, and independent valuer, Beijing Cushman & Wakefield Property Assessment Co., Ltd., have issued consent letters for publication of this announcement, and confirmed that the terms of the transaction are fair and reasonable and in the overall interests of the Company and the shareholders.