APOLLO FMG (00860) plans to acquire all issued shares of Golden Jumbo Limited for a total of 120 million Hong Kong dollars.

APOLLO FMG (00860) announces that on June 30, 2026, the buyer and seller, Joint Billion Investment Limited, entered into a purchase agreement. The buyer conditionally agrees to acquire, while the seller conditionally agrees to sell, the shares of the target company Golden Jumbo Limited, representing all of the issued share capital at the time of completion, for a price of HK$120 million. To facilitate the acquisition, the target group proposes a restructuring, including replacing various purchase and sale agreements. As a precondition for completion, this includes transferring all rights and obligations under these contracts to a Hong Kong company by SPSHK, and the Hong Kong company must replace SPSHK and take on all rights and obligations under these contracts; entering into new distribution agreements; terminating existing distribution agreements; and the Hong Kong company and SPSHK entering into employment contracts with key personnel in the automobile distribution business with appropriate experience and qualifications for a minimum of 3 years. After the restructuring is complete, the target company will operate the automobile distribution business previously managed by SPSHK through the Hong Kong company, based on the new distribution agreement and related purchase and sale agreements. After completion, the target company will become a direct wholly-owned subsidiary of the company, and the financial performance of the target group will be consolidated into the company's accounts. The acquisition is a strategic move to expand the company's long-term goal of expanding its presence in the luxury travel value chain. Through the acquisition, the company will essentially acquire a mature automobile distribution business with existing luxury car authorized distribution arrangements in Hong Kong. This will allow the company to extend its travel platform from product development and technical solutions to downstream retail and customer interfaces, enhancing its business coverage and market position in the luxury travel market. The directors also believe that the car distribution business can complement the company's existing travel technology and supercar business, providing a direct channel to reach end customers in the luxury travel market; and in Hong Kong, which is an important market for showcasing high-end and high-performance cars. Integrating distribution business is expected to enhance the company's understanding of customer preferences, market demand, and after-sales service requirements, supporting the company's broader travel initiatives, including product positioning, brand development, and potential future partnerships with travel partners.