Weiye Holdings (01570) announced that after the trading session of the Stock Exchange of Hong Kong on October 15, 2024, the company has entered into a sales agreement with the relevant buyer regarding the sale transaction. According to the sales agreement, the company agrees to sell, and the buyers Zhang Wei, Zhuang Xin, and Henan Weiye Hui Life Service Co., Ltd. (i.e. Zhang Wei, Zhuang Xin, and Henan Weiye Hui Life Service Co., Ltd.) agree to purchase 23.7 million shares, 16.2 million shares, and 32 million shares of ordinary shares of eindec Group Limited respectively, at a total price of approximately 2.876 million Singapore dollars (accounting for approximately 66.76% of the total issued and paid-up share capital of the target company), with a selling price of 0.04 Singapore dollars per share. The target company is a limited company registered and established under Singapore law, mainly engaged in investment holding, and its shares are listed on the Catalist of the Singapore Exchange. As of the date of this announcement, the company directly holds 66.76% equity of the target company.
The sale transaction provides the group with the opportunity to realize its investment in the equipment manufacturing division and to reallocate its financial resources for future development. As the sale transaction is conducted in the open market at the prevailing market price, the directors believe that the sale transaction is conducted on general commercial terms, the terms are fair and reasonable, and are in the overall interests of the company and shareholders.