China Health Group (00673) announced that on November 13, 2024, the company entered into an announcement with Yingcai Limited...
According to the announcement by China Health Group (00673) on November 13, 2024, the company entered into a non-legally binding letter of intent with Potential Investor (Yingcai Limited), with Potential Investor expressing its intention to subscribe for a total amount of not less than 50 million Hong Kong dollars (potential subscription matters) of the company's new ordinary shares (subscription shares). The sole shareholder of the Potential Investor is Mr. Ying Wei, who was a former non-executive director of the company from June 2016 to May 2018, and as of the date of this announcement, holds 16.2119 million shares of ordinary shares of the company (accounting for approximately 3.3% of the total number of ordinary shares issued by the company). Based on all reasonable inquiries made by the directors, they are fully aware, informed, and believe that, apart from the aforementioned, the Potential Investor and its sole shareholder are third parties independent of the company and its affiliates.
According to the letter of intent, the contracting parties will make their best efforts to further negotiate the terms of the potential subscription matters, including but not limited to the subscription price and quantity of the subscription shares, and will enter into a formal and legally binding agreement on the potential subscription matters as soon as practicable where feasible. The objective of the contracting parties of the letter of intent is to complete the potential subscription matters within 90 days from the date of the letter of intent.
