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Green Economy Development Limited ( (HK:1315) ) has provided an announcement.
Green Economy Development Limited has announced a major transaction involving the disposal of its entire issued share capital in a target company. This transaction is structured under a Sale and Purchase Agreement with a purchaser wholly owned by Mr. Wong, a director of several subsidiaries of the target company. The disposal, which includes settling outstanding debts through a Deed of Settlement, will result in the target company no longer being a subsidiary of Green Economy Development Limited. The transaction is classified as a major and connected transaction under the Hong Kong Listing Rules, requiring shareholder approval at an Extraordinary General Meeting (EGM). An Independent Board Committee and Financial Adviser have been appointed to assess the fairness of the transaction.
More about Green Economy Development Limited
Green Economy Development Limited is a company incorporated in the Cayman Islands, operating within the green economy sector. It focuses on sustainable development initiatives and related services, with its shares publicly traded under stock code 1315.
Average Trading Volume: 98,503
Technical Sentiment Signal: Buy
Current Market Cap: HK$85.82M
Learn more about 1315 stock on TipRanks’ Stock Analysis page.