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力量发展(01277.HK)拟4.23亿元收购Seedlife全部股权

Kinetic dev (01277.HK) plans to acquire 100% equity of Seedlife for 0.423 billion yuan.

Gelonghui Finance ·  Sep 6 11:07

On September 6, 2024, Kinetic Dev (01277.HK) announced that the company has entered into a share purchase agreement with Seedland Smart Service and Seedlife, with the buyer agreeing to acquire all of Seedlife's equity for a total consideration of RMB 0.423 billion through its subsidiary ("acquired subsidiary").

Seedlife is a limited company registered under the laws of the British Virgin Islands, and it has been 100% owned by Seedland Smart Service since its registration. It primarily engages in property management services in China through its subsidiary.

As of the date of this announcement, Kinetic Qinhuangdao has made a payment of RMB 0.803 billion (including VAT) to the seller for the purchase of adjusted properties in 2023, in accordance with the 2022 property purchase agreement (as amended by supplemental agreements, the second supplemental agreement, and the third supplemental agreement).

However, as of the date of this announcement, the overall progress of the property registration process for the adjusted properties in 2023 (especially the further termination of properties in 2024) has not been completed. In order to protect the interests of the company and shareholders, the group has been actively seeking opportunities and identifying suitable assets that can be acquired from sellers, on-site, and through other means to replace all or part of the adjusted properties in 2023 that are subject to registration delays. Therefore, the buyer has obtained guarantees for acquiring all of Seedlife's equity from Seedland Smart Service under the share purchase agreement and has agreed with Seedland Smart Service to offset the remaining equity amount against previously paid but yet-to-be-delivered consideration of equal value.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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