SHEEN TAI (01335) terminates acquisition of all issued shares of Sino Leader Ventures.

SHEEN TAI (01335) announced that it has received a notice from the seller ("Wong Wai Lee") on February 27, 2025 regarding certain matters related to the proposed acquisition of all issued share capital of the target company (Sino Leader Ventures Limited). The notice proposed either (1) terminating the sale and purchase agreement ("SPA") with effect from February 27, 2025, or (2) increasing the price by 15% due to a significant increase in the price of Bitcoin after the signing of the SPA. If the buyer does not respond within 5 days of receiving the notice agreeing to the price increase, the SPA shall be deemed terminated without any party bearing any default liability. After careful consideration, the buyer has decided not to proceed with the acquisition and the SPA has been terminated. As the buyer did not make any payment to the seller as a deposit under the SPA, the board believes that the termination will not have any significant adverse impact on the financial condition and operations of the group.