Mainland Headwear Holdings (HK:1100) has released an update.
Mainland Headwear Holdings Limited has conditionally agreed to purchase a 55% stake in an unnamed target company for a total consideration of Euro 5,000,000. The acquisition, which took place after trading hours on August 5, 2024, is classified as both a discloseable and a connected transaction under the Hong Kong Listing Rules, yet it is exempt from several stringent requirements. Mr. El-Kalaani, the ultimate beneficial owner of the vendor and target company, is a connected person at the subsidiary level of Mainland Headwear Holdings.
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