Summary by Futu AI
China Wantian Holdings Limited ("China Wantian") announced on September 27, 2024, that it has signed a stock purchase agreement with Mr. Liao, the buyer, to sell all the issued shares of its wholly-owned subsidiary Lion City, as well as the property rights indirectly held by the subsidiary, for a total consideration of HK$ 56,320,000. At the same time, the company will enter into a leaseback agreement with Mr. Liao on or before the completion date, leasing the property for two years at a monthly rent of HK$ 200,000 based on the terms of the stock purchase agreement. As Mr. Liao is an executive director and a significant shareholder of the company, as well as the sole director of the target group, this transaction...Show More