On October 23, 2024, Continental H Group (00513.HK) announced that the buyer (a wholly-owned subsidiary of the company) acquired shares from the seller at a price of 576,313 British pounds according to the transfer agreement (approximately 24.81% of the issued shares of the target company C.J. (UK) Limited, which is a non-wholly-owned subsidiary of the company).
Following completion, all shares in the target company's capital will be owned by the buyer, and the target company will become a wholly-owned subsidiary of the company. The target company is registered in England and Wales, primarily engaged in wholesale jewelry business in the United Kingdom.
Given the potential of the UK and European markets, the acquisition is a strategic move that aligns with the group's growth objectives. It will further enhance the group's ability to control the pace of jewelry trade business development in overseas markets.
