KANGDA FOOD (00834) controlling shareholder intends to sell 77 million shares of the company's stock.

KANGDA FOOD (00834) announces that the Board of Directors has been informed by the Company's controlling shareholder (as defined in the Listing Rules) Wu Jiming that on January 9, 2025, Dingxi Limited (the seller, a company wholly owned and beneficially owned by Wu Jiming) has agreed to sell a total of 77 million shares of the Company at an average price of HK$0.14 per share to seven independent third parties unrelated to the Company and its associates (as defined in the Listing Rules), for a total consideration of HK$10.78 million (the sale). Prior to the completion of the sale, the seller held 325 million shares of the Company, representing approximately 71.69% of the Company's issued share capital. Following the completion of the sale, the seller's shareholding decreased to 248 million shares, representing approximately 54.69% of the Company's issued share capital. The seller remains the controlling shareholder of the Company. The Company expects that the sale will not have any significant impact on the business operations of the Company and its subsidiaries.