Summary by Moomoo AI
Kinetic Development Group Limited announced that on September 6, 2024, it signed a share purchase agreement with Seedland Smart Service and Seedlife, agreeing to acquire all the shares of Seedlife for a total consideration of RMB 423,000,000. The transaction constitutes a disclosable transaction and is subject to the announcement, filing, and independent shareholder approval requirements under Chapters 14 and 14A of the Listing Rules. The completion of the transaction is subject to independent shareholder approval and may or may not proceed. Kinetic Development Group has established an independent board of directors committee for this transaction and appointed an independent financial advisor to provide advice. A special general meeting of shareholders will be convened for the independent shareholders to consider and approve the share purchase agreement and the acquisition of Seedlife. In addition, Kinetic Development Group completed the acquisition of 100% equity interest in Taiyuan and Tai in June 2024 and has entered into multiple supplementary agreements with the seller to adjust the target properties for the year 2024.
