Minshang Creative Technology Holdings Limited (HK:1632) has released an update.
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Minshang Creative Technology Holdings Limited has announced that the expected financial targets for their acquisition of Context Image Holdings Limited were not met. Consequently, the company will not issue the Third Stage Consideration Shares to the vendors as the shortfall for the Audited Consolidated Revenue and Net Profit was significant. The Board had anticipated such an outcome, with the Sale and Purchase Agreement structured to reflect the Target Group’s value based on meeting financial guarantees.
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