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New Times Energy Corporation Limited ( (HK:0166) ) has issued an update.
New Times Energy Corporation Limited has announced a major transaction involving the disposal of shares in its subsidiary, ACPMR. The transaction involves Absolute Champ, a wholly-owned subsidiary of the company, selling 49% of ACPMR’s issued shares and a corresponding shareholder’s loan to Samore for approximately HK$13,295,000. After the transaction, ACPMR will be owned 51% by Absolute Champ and 49% by Samore, becoming an indirect non-wholly-owned subsidiary of New Times Energy. This transaction is classified as a major transaction under the Listing Rules, requiring shareholder approval, which has been obtained from Max Sun, holding a significant majority of the company’s shares. Consequently, no special general meeting is necessary, and the company will dispatch a circular detailing the transaction to shareholders by August 14, 2025.
More about New Times Energy Corporation Limited
Average Trading Volume: 2,130,346
Technical Sentiment Signal: Sell
Current Market Cap: HK$445.8M
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