Summary by Futu AI
Superior Air Holdings Group Limited announced on 26 February 2024 that it has entered into a purchase and sale agreement with the buyer, Mr. Tan Tze Loong, conditionally agreeing to sell a 22% stake in its wholly-owned subsidiary Integral Virtue Limited at a transaction price of P$6.25 million (approximately HK$36.25 million). Upon completion of the transaction, Superior Air Holdings will hold 78% of the target company and the target company will become a non-wholly owned subsidiary. Under the Listing Rules, this sale constitutes a major transaction and is subject to relevant declarations, announcements, circulars and shareholder approval requirements. The Company will send relevant circulars to shareholders on or before March 22, 2024 and will convene a special general meeting to approve the transaction. The completion of the sale is subject to the conditions set out in the Buy and Sell Agreement and may not be completed. The Company advises shareholders and potential investors to exercise caution when trading shares.