KAFELAKU COFFEE (01869.HK): Sells Entire Equity of Subsidiary Country Sharp for HKD 8,000, Constituting a Discloseable Transaction
NewTimeSpace News: On 20 August 2026, Kafelaku Coffee Holding Limited (01869.HK) announced that its wholly-owned subsidiary Zhengtong Holdings Limited (the seller) entered into a sale and purchase agreement on 29 December 2025 with Mr. Li Zhuang, an independent third party (the buyer), to sell the entire issued share capital of Country Sharp Limited for a total consideration of HKD 8,000. Country Sharp is an investment holding company holding the entire issued share capital of Tin Wan Loi Limited and Jun Pin Investment Limited; Jun Pin is an inactive company, while Tin Wan Loi previously operated a restaurant business under the name Lei Bo Restaurant, which was terminated in September 2025.
Due to the company's inadvertent oversight, Tin Wan Loi's financials were not included in the relevant size test calculations and the HKD 8,000 nominal consideration was used, which would have rendered the disposal a minimally de minimis transaction exempt from reporting. After correction, as the highest applicable percentage ratio exceeded 5% but was below 25%, the disposal constitutes a discloseable transaction of the company, subject to reporting and accountants' requirements but exempted from the shareholders' approval requirement. The group is principally engaged in providing food and beverage services in Hong Kong and China, and is developing its coffee business; given that Tin Wan Loi's restaurant business has ceased and Jun Pin has no operations, the disposal will streamline the group's corporate structure and operations.
The company deeply regrets its failure to comply with the Listing Rules and has implemented remedial measures: strengthening compliance training for directors, senior management and staff; requiring management to report potential notifiable transactions to the board before entering into them; and maintaining closer cooperation with regulatory compliance professional advisors.
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