MEDINET GROUP (08161) announced that on December 19, 2024 (after trading hours), the seller Med...
According to the announcement from MEDINET GROUP (08161), on December 19, 2024 (after trading hours), the seller Medi Net (BVI) Limited (a wholly-owned subsidiary) and the buyer Zhao Chuangbo entered into a non-binding memorandum of understanding regarding a potential sale.
According to the memorandum of understanding, the buyer intends to acquire and the seller intends to sell 100% of the equity of Hengquan, along with all debts, liabilities, and responsibilities owed to the seller or incurred by Hengquan (whether actual, contingent, or deferred, regardless of whether they are due and payable on the completion date).
The announcement states that entering into the memorandum of understanding may provide the group with an opportunity to monetize its investments. The Directors believe that the memorandum was established on general commercial terms, is fair and reasonable, and is in the overall interests of the company and its Shareholders.