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Sheen Tai's Subsidiary to Acquire Nevada-Based Technology Company; Shares Up 3%
Sheen Tai Holdings subsidiary intends to acquire 100% of the target company's issued shares.
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. 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). After the completion of the acquisition, the target company will become an indirectly 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.
sheen tai (01335.HK) plans to acquire all the shares of a software development company.
On October 21, Geelonghuannounced that on October 21, 2024, the buyer Sheen Tai Holdings (01335.HK) and the seller Huang Weili (an independent third party) have entered into a purchase agreement regarding the acquisition. Accordingly, the seller agrees to sell and the buyer agrees to purchase the shares (equivalent to 100% of the target company's issued shares). Upon completion of the acquisition, the target company will become a wholly-owned subsidiary of the company, and the financial performance of the target group will be consolidated into the group's financial statements. The target company is a company as of March 2024.
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