GRAND MING(01271.HK): Exclusive Period for Previous Potential Sale Expires, New Agreement Signed to Advance Sale of Two Properties in Hong Kong
GRAND MING announced that the exclusive period for the previous potential sale has expired without reaching a formal agreement. Meanwhile, the company stated that its subsidiary has entered into an exclusive rights agreement and letter of intent with a new potential buyer regarding the proposed acquisition of two properties in the New Territories, Hong Kong.
As reported by New Space Time News, GRAND MING (01271.HK) announced on January 6, 2026, new progress in the property sale matter, initiating new negotiations after the failure to advance the previous transaction. According to the announcement,GRAND MING has not entered into any legally binding formal agreement with the original potential buyer regarding the matter, and at the same time, the company has obtained a new opportunity to advance the transaction.
Pursuant to the announcement, Welljoy Development Limited and Kam Tat Fu Limited, indirect wholly-owned subsidiaries of GRAND MING, have received an exclusive rights agreement and letter of intent signed by the new potential buyer on January 5, to negotiate the latter’s possible acquisition of two properties in the New Territories, Hong Kong. It is understood that the exclusive rights agreement and letter of intent took effect on January 5, with a validity period of 120 days from the effective date, and the potential buyer may extend the validity period up to twice.
GRAND MING stated that if the potential transaction is successfully implemented, the net proceeds will help the group reduce overall liabilities and improve its financial position.
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