Summary by Futu AI
Aoyuan China (stock code: 3883) announced on 13 May 2024 that its wholly-owned subsidiary Aoyuan Property Holdings (Canada) Ltd. entered into a share purchase agreement with Winnet Capital Ltd., conditionally agreeing to sell the entire interest in Phase 1 of the M2M Project for a total transaction price of CAD 68,000,070 (approximately HK$391,000,403)。 The maximum applicable percentage rate of more than 25% but less than 75% constitutes a major transaction in accordance with Chapter 14 of the Listing Rules and subject to reports, announcements and shareholder approval. The Company will hold an Extraordinary General Meeting on or before June 11, 2024 and send the relevant circular. After the sale is completed, the target company will remain a subsidiary of Aoyuan China, and the financial results of M2M Project Phase II and Phase 3 will continue to be reported in full at Aoyuan China. Shareholders and potential investors should note that transactions are subject to conditions or exemptions and are not necessarily completed.