Summary by Futu AI
Fidao Tourism Technology Co., Ltd. (formerly known as Yang-Ying Holdings Limited) announced on 28 March 2024 that its wholly owned subsidiary entered into a purchase and sale agreement with the buyer, Mr. Chen Zhenkang, agreeing to sell its 51% stake in Fung Yi Footfood International Limited for a total price of HK$800 million. Upon completion of the transaction, Flyway Tourism Technologies will no longer hold any issued share capital of the Target Company and the Target Company will no longer be included in Flyway Tourism Technology's consolidated financial statements. UNDER THE GEM LISTING RULES, THIS TRANSACTION IS A DISCLOSEABLE CONNECTED TRANSACTION BUT IS EXEMPTED FROM COMPLIANCE WITH RELEVANT CIRCULARS, INDEPENDENT FINANCIAL OPINIONS AND SHAREHOLDER APPROVAL AS THE TRANSACTION MEETS CERTAIN CONDITIONS...Show More