Summary by Futu AI
Digital Domain Group Limited (stock code: 547) announced that its wholly-owned subsidiary, Digital Domain Gaming Media, signed a distribution agreement with ADATA Technology Co., Ltd. on October 25, 2024, becoming the exclusive general distributor of ADATA XPG products in greater China and the Americas. The agreement is initially valid until December 31, 2026, with an option to extend for three years. Digital Domain Gaming Media will procure XPG products from ADATA and be responsible for promotion, marketing, sales, and distribution in that region. ADATA is a major shareholder of Digital Domain and related parties, holding approximately 19.40% of the shares. This transaction constitutes a continuing connected transaction, subject to the annual review, declaration, announcement, and independent shareholder approval requirements of Chapter 14A of the Listing Rules. Digital Domain will convene a special general meeting of shareholders for independent shareholders to consider and approve the distribution agreement and continuing connected transaction. The Independent Directors Committee and Independent Financial Advisor BOCI Finance have provided recommendations and opinions to independent shareholders on this transaction.