Sheen Tai Holdings (01335) announced that on October 21, 2024, the buyer (a wholly-owned subsidiary of the company) and the seller (an independent third party) have entered into a purchase agreement on the acquisition, where the seller agrees to sell at a price and the buyer agrees to purchase the shares for sale (equivalent to 100% of the target company's issued shares).
Upon completion of the acquisition, the target company will become an indirect wholly-owned subsidiary of this company, and the financial performance of the target group will be consolidated into the financial statements of this group.
According to the purchase agreement, the buyer agrees to acquire and the seller agrees to sell the shares for sale (equivalent to 100% of the target company's issued shares). The target company indirectly owns all the issued shares of MetaSphere Innovations LLC (i.e., a technology company). The technology company is mainly engaged in software development and holds equipment, including 4250 units of HASH supercomputers S19; and 650 units of HASH supercomputers S19 Pro.
Digital assets have experienced significant growth in recent years. Despite price fluctuations, the overall trend indicates an optimistic long-term outlook. Through the acquisition of the target group, the company strategically positions itself, leveraging the future growth and appreciation potential of digital assets.