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Smart Globe Restructures With Land Acquisition and Bonds
SMART GLOBE (01481.HK) has completed the acquisition of land in Zambia.
On January 3, Glorious Group (01481.HK) announced that following the government's (referring to the President of Zambia, whose consent for the transfer of the land was issued through the Zambian Ministry of Lands) consent to transfer the land and the receipts for real property transfer tax and tax clearance certificate issued by the Zambian Revenue Authority obtained by Heng Qu on December 21 and December 22, 2024 (which is one of the prerequisites for completing the acquisition), all conditions precedent under the sale and purchase agreement have been met. Therefore, the acquisition was completed on January 3, 2025. After the completion of the acquisition (and before the completion of the share subscription), the
Smart Globe Holdings Acquiring Land in Zambia, Enters MOU for Business Cooperation
Smart Globe Holdings Expands in African Logistics Sector
Smart Globe (01481.HK) plans to acquire land for 3.5 million US dollars to develop into a one-stop logistics center for cross-border logistics operation between Zambia and Congo (Kinshasa).
Gelonghui reported on November 26 that smart globe (01481.HK) announced that the group has ventured into logistics operations in Sub-Saharan Africa. Currently, the group has successfully established its own fleet of trucks and has begun logistics operations in Zambia. To further develop its logistics business, the group has agreed to acquire land adjacent to the Zambia and Congo (DRC) border for a cost of 3.5 million USD. The group plans to develop this land into a one-stop logistics center for cross-border logistics operations between Zambia and the Congo (DRC). As part of the group's plan to develop this land, Tera Logistics (a wholly-owned subsidiary of the company)
Express News | Smart Globe - to Acquire Land Adjacent to Border of Zambia & Drc for $3.5 Mln
