EASYKNIT INT'L (01218.HK): Clarifies Media Reports on Potential Sale of "Sum Lei" Property in Kowloon, in Negotiations with Independent Third Parties without Binding Agreement
NewTimeSpace News: Easyknit International Holdings Limited (stock code: 01218) issued a voluntary announcement on August 7, clarifying recent media reports and market rumors regarding the potential sale of a property named "Sum Lei" located at 470, 472, 474, 476 and 478 Chatham Road North, Kowloon, Hong Kong. The Group confirmed that it is currently in discussions with certain independent third parties regarding the potential disposal, but as of the date of the announcement, no final or binding agreement has been reached with the relevant parties.
According to the announcement, it is currently uncertain whether any transaction will proceed or be completed. The Board is highly concerned that unaudited details of the potential disposal have been widely reported before any formal agreement is signed, and considers that such disclosure may adversely affect the Group's ongoing negotiations, including its ability to negotiate the final consideration and other commercial terms. The Company clarified that the reported details and terms of the potential disposal have not been formally confirmed or agreed by the Company as final terms.
The Company stated that it will make further announcement(s) in due course in accordance with the requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and reminded shareholders and potential investors to exercise caution when dealing in the Company's securities.
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