ALCO HOLDINGS (00328): Memorandum of Understanding invalid

ALCO Holdings (00328) announced that the announcement regarding the memorandum of understanding for potential cooperation had a stated date of August 9, 2024. Due to the lack of consensus on the terms and conditions of the formal agreement for potential cooperation at this time, the board of directors believes that it is not the best time to proceed with the potential cooperation or extend the final deadline of the memorandum of understanding. Therefore, in accordance with the terms and conditions of the memorandum of understanding, since no formal agreement has been reached, the memorandum of understanding has expired and the company will not proceed with any cooperation under the memorandum of understanding. Any developments will be announced by the company at the appropriate time. The board of directors believes that the expiration of the memorandum of understanding will not have a significant adverse impact on the existing business operations and financial condition of the group.