UMP Healthcare Finalizes Strategic Acquisition

UMP Healthcare Holdings Limited (HK:0722) has released an update.

UMP Healthcare Holdings Limited has completed a major transaction acquiring 60% of a target company, making it a non-wholly owned subsidiary, with the remaining 40% held by the seller. Following the seller’s failure to meet the guaranteed profit, a settlement deed was agreed upon which includes an adjusted shortfall payment, subject to specific listing rules as a connected transaction. The board has approved the settlement, which has been deemed fair and in the shareholders’ interests.

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