Anchorstone Compensates for Profit Shortfall with Shares

Anchorstone Holdings Limited (HK:1592) has released an update.

Anchorstone Holdings Limited has issued 266,761,176 new shares to compensate for a shortfall in guaranteed profits following the acquisition of a target company. The actual profit was approximately HK$4.9 million less than the promised HK$18 million, leading to an adjustment in the consideration and the issuance of shares valued at over HK$22 million. This move is deemed fair and in shareholders’ interests, ensuring the vendor fulfills their profit guarantee obligations.

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