Summary by Futu AI
Kinetic Development Group announced that on September 6, 2024, it signed a share purchase agreement with Seedland Smart Service and Seedlife, agreeing to acquire all the shares of Seedlife for a total consideration of RMB 423,000,000. This transaction constitutes a disclosable transaction and is subject to the announcement, declaration, and independent shareholder approval requirements under Chapters 14 and 14A of the Listing Rules. The completion of the transaction is subject to the approval of independent shareholders and may or may not proceed. Kinetic Development Group has established an independent board of directors for this transaction and has appointed an independent financial advisor to provide advice. A special general meeting of shareholders will be held for the independent shareholders to consider and approve the share purchase agreement and the acquisition of Seedlife. In addition, Kinetic Development Group completed the acquisition of 100% equity of Taiyuan and Tai in June 2024 and has conducted multiple supplemental agreements and adjustments with the seller regarding the target properties for the year 2024.