Huili Resources (Group) Limited (HK:1303) has released an update.
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Huili Resources (Group) Limited has announced the acquisition of a company by purchasing all its issued shares for HK$35,200,000, to be paid through the issuance of 73,333,333 new shares. This strategic move will result in the acquired company becoming an indirect wholly-owned subsidiary, with its financials being consolidated into Huili’s financial statements. The transaction is deemed a disclosable transaction, requiring no shareholder approval but is contingent on certain conditions being met or waived.
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