The board (the “Board”) of directors (the “Directors”) of Magnus Concordia Group Limited (the “Company”) announces the unaudited condensed consolidated results of the Company and its subsidiaries (collectively referred to as the “Group”) for the six months ended 30 September 2018 with the corresponding comparative figures as follows:
Reference is made to the announcement (the “Announcement”) of Magnus Concordia Group Limited (the “Company”) dated 8 October 2018 in respect of the major transaction in relation to the acquisition of the entire equity interest in Jinjin Investments Co., Limited involving the issue of the consideration shares under general mandate. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.
The board of directors (the “Board”) of Magnus Concordia Group Limited (the “Company”) announces that a meeting of the Board of the Company will be held on Friday, 23 November 2018 for the purposes of, among other matters, approving the interim results of the Company and its subsidiaries for the six months ended 30 September 2018 and its publication, and considering the payment of an interim dividend, if applicable.
MAJOR TRANSACTION IN RELATION TO THE ACQUISITION OF THE ENTIRE EQUITY INTEREST IN JINJIN INVESTMENTS CO., LIMITED INVOLVING THE ISSUE OF CONSIDERATION SHARES UNDER GENERAL MANDATE
The Board is pleased to announce that on 8 October 2018 (after trading hours of the Stock Exchange), the Purchaser (a wholly-owned subsidiary of the Company) and the Company entered into the Agreement with the Seller and the Seller Guarantor, pursuant to which the Purchaser conditionally agreed to acquire, and the Seller conditionally agreed to sell, the entire issued share capital of the Target Company at the Consideration of HK$400 million in accordance with the terms and conditions of the Agreement. The Consideration shall be satisfied by: (i) the payment of the Deposit of HK$80 million within three (3) business days after the date of the Agreement; (ii) the allotment and issuance of 662,162,483 Consideration Shares at the Issue Price of HK$0.21 by the Company to the Seller on the Completion Date; and (iii) the payment of approximately HK$181 million by the Purchaser to the Seller in cash on the Completion Date, subject to retention of the tax payable by the Seller as required and estimated pursuant to relevant PRC tax laws in relation to the Acquisition. The Purchaser also agreed to pay, in addition, the Conditional Payment of up to HK$200 million to the Seller in proportion to the fulfillment of the Profit Target or of the Delivery Target, whichever is lower, in accordance with the terms and conditions of the Agreement.
CHANGES OF COMPANY SECRETARY, AUTHORIZED REPRESENTATIVE AND AGENT FOR THE SERVICE OF PROCESS AND NOTICES IN HONG KONG
The board of directors (the “Board”) of Magnus Concordia Group Limited (the “Company”) hereby announces that Ms. So Yee Kwan (“Ms. So”) has tendered her resignation as the company secretary of the Company (the “Company Secretary”) and ceased to act as (i) an authorized representative of the Company pursuant to Rule 3.05 of the Rules Governing the Listing of Securities (the “Listing Rules”) on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) and (ii) the agent of the Company for accepting service of process and notices on behalf of the Company in Hong Kong as required under Rule 19.05(2) of the Listing Rules (collectively, the “Authorized Representative”) with effect from 21 September 2018.