KEYSTONE HOLDINGS (01592.HK) ANNOUNCES THE ACQUISITION FROM CHAIRMAN AND CONTROLLING SHAREHOLDER LEE YURUN OF THE ENTIRE STAKE IN THE MARBLE AND GRANITE BUSINESS - XIAMEN ASIA PACIFIC. BASED ON THE BUYER AUDITOR'S REVIEW REPORT DATED OCTOBER 3, 2024, THE ACTUAL PROFIT FOR THE GUARANTEED PERIOD WAS APPROXIMATELY US$13.0814 MILLION, LESS THAN THE GUARANTEED PROFIT Approximately $4.9186 million.
Under the revised arrangement, the price will be reduced to $72.6747 million, exceeding the value of the share price (approximately $50 million). Therefore, the Buyer will encourage the Company to distribute 0.267 billion shares to Rai Yuwen within 14 business days after the date of the review report, equivalent to approximately 11.06% of the enlarged share capital at a price of $0.085 per share, as payment of an adjusted price balance of approximately $22.6747 million.
Upon completion, Lei Yurun and its associates increased their shareholding in the company from 63.97% to 67.96%.