Glonghui, July 14, 丨 Ling Rui Holdings (00784.HK) announced that the company was notified by Simple Joy Investments Limited, the controlling shareholder of the company, that on July 14, 2021, Simple Joy (as the seller) entered into a sales agreement with Jiada Development Co., Ltd. (as the buyer). According to this, Simple Joy agreed to sell and the buyer agreed to buy 70 million shares of the company, equivalent to about 8.75% of the company's issued share capital at a cost of HK$1.01 million.

It is anticipated that the sale will be completed immediately after the purchase agreement is signed. Simple Joy is wholly owned by Mr. Li Jianming, Chairman of the Board and Executive Director of the Company. The company's board of directors anticipates that the sale will not have any significant impact on the Group's business operations and management composition.

The buyer was a limited liability company incorporated in the British Virgin Islands. As of the date of this announcement, the buyer was wholly owned by Mr. Ling Zhihui, general manager of the Group. According to the listing rules, the buyer and Mr. Ling Zhihui are related persons of the company.

Following the completion of the sale, Simple Joy held 463 million shares, equivalent to about 57.86% of the company's issued share capital on the date of this announcement. As a result, Simple Joy remains the controlling shareholder of the company.