Madison Hldg (08057) announced the sale of HACKETT ENTERPRISES LIMITED's 38% stake ...
Madison Hldg (08057) announced the sale of 38% stake in HACKETT ENTERPRISES LIMITED. All prerequisites listed in the sale and purchase agreement have been met and the completion has been achieved on August 7, 2024, in accordance with the terms and conditions of the sale and purchase agreement. Under the terms and conditions of the sale and purchase agreement, the consideration will be paid in the form of full offset of the buyer's loan principal on an equal basis. Therefore, the company did not receive any proceeds after completion.
As of the completion and the date of this announcement, the Company owns 39% of the sold company, the buyer owns 38%, Apex Treasure International Limited owns 18%, and Atlantis China Star Fund Limited owns 5%.
