LAI GROUP (08455) acquires control of 224 million shares from its major shareholder Liu Jiasheng, changing the controlling rights.

LAI GROUP (08455) announced that on February 27, 2025 (after trading hours), Junhua Limited (fully owned by Dr. Chen Lishan, Vice Chairman and Executive Director of the Board) entered into an agreement with the buyer, Hong Yang Group Chain Management Limited, to sell 2.24 billion shares, representing 28% of the company's issued share capital on the date of this announcement, for a total cash consideration of HK$14.96 million (i.e. HK$0.0668 per share). The completion will follow shortly after the signing of the agreement. After completion, the seller will no longer be a controlling shareholder of the company. The Board expects that the sale will not have any significant impact on the Group's business operations or management composition. It is understood that the buyer is Hong Yang Group Chain Management Limited, a privately held company registered in Hong Kong and fully owned by Mr. Liu Jiasheng.