On December 2, Kingkey Fin Int (01468.HK) announced that on November 29, 2024, the company entered into a sales agreement with Mr. Piroon Shinawatra (the "buyer"). According to the agreement, the company has agreed to sell a 30% stake in its wholly-owned subsidiary, KKF Holdings Limited (the "target company"), at face value, and the buyer has agreed to acquire it. After the completion of the sale, the shares of the target company will be held by the company and the buyer at 70% and 30% respectively. As of the date of this announcement, the target company has not engaged in any business operations. The company and the buyer are preparing to embark on a strategic cooperation focused on developing green energy projects. This will include financing for the establishment of green energy facilities.
With the implementation of the new operating strategy, the target company will have the strength to become a leader in financing green energy projects, while making a significant impact on driving global environmental sustainability efforts. This approval aligns well with the Group's continuous efforts to deepen environmental, social, and governance measures in the green energy sector. In view of the above developments, the board of directors believes that the sale will bring significant benefits to the company's shareholders.
