APOLLO Smart Mobility Group Limited ("The Company") has reached a purchase agreement with Global 3D and an independent third-party buyer on July 26, 2024 to sell approximately 12.87% of the shares of the target company, Divergent Technologies Inc., for a consideration of approximately HKD 793.0 million. This transaction will result in The Company and Global 3D no longer holding any equity interest in the target company. This transaction is considered a significant sale and must comply with the provisions of Chapter 14 of the Listing Rules, including shareholder approval. The Company will send a letter to the shareholders and convene a special general meeting to approve the transaction on or before August 22, 2024. Trading of shares will be suspended from July 29, 2024 and will resume on August 8, 2024. The...Show More

APOLLO Smart Mobility Group Limited ("The Company") has reached a purchase agreement with Global 3D and an independent third-party buyer on July 26, 2024 to sell approximately 12.87% of the shares of the target company, Divergent Technologies Inc., for a consideration of approximately HKD 793.0 million. This transaction will result in The Company and Global 3D no longer holding any equity interest in the target company. This transaction is considered a significant sale and must comply with the provisions of Chapter 14 of the Listing Rules, including shareholder approval. The Company will send a letter to the shareholders and convene a special general meeting to approve the transaction on or before August 22, 2024. Trading of shares will be suspended from July 29, 2024 and will resume on August 8, 2024. The completion of the sale is subject to the fulfillment of the preconditions set forth in the purchase agreement. The Company expects to record a loss of approximately HKD 106.0 million from this sale and plans to use the net proceeds of approximately HKD 790.0 million for R&D of supercars and electric vehicles and general operational funding.