Business
AGM Group Holdings Inc. Signs LOI to Acquire Hong Kong-Based Financial Services Company with Type 1, 2, 4, 5, and 9 Licenses
BEIJING, Aug. 7, 2020 /PRNewswire/ -- AGM Group Holdings Inc. ("AGMH" or the "Company") (NASDAQ: AGMH), an application software company providing accounting
About this update from Agm Group Holdings Inc.
[{"type":"text","content":"BEIJING, Aug. 7, 2020 /PRNewswire/ -- AGM Group Holdings Inc. (\"AGMH\" or the \"Company\") (NASDAQ: AGMH), an application software company providing accounting and ERP software, fintech software, and trading education software and website service, is pleased to announced that through its wholly-owned subsidiary, AGM Technology Limited (\"AGM Technology\"), the Company has entered into a letter of intent (\"LOI\") on August 7, 2020, with the shareholders of Safe Gold Financial Holdings Limited (\"Safe Gold\") to acquire 100 percent equity interest in Safe Gold and its wholly owned subsidiary Safe Gold Securities and Futures Limited (\"Safe Gold SF\").\nSafe Gold is a Hong Kong-based financial services company which, through its wholly-owned subsidiary Safe Gold SF, holds Hong Kong Financial Services Licenses Type 1 (Dealing of Securities), Type 2 (Dealing in Futures Contracts), Type 4 (Advertising on Securities), Type 5 (Advertising on Futures Contracts), and Type 9 (Asset Management). Safe Gold is also a participant and trading right holder of both HKEX and HKFE.\nPursuant to the LOI, the total consideration of the proposed all-cash transaction is set to equal the combined net asset value for Safe Gold and Safe Gold SF as of June 30, 2020, plus a premium of HK$8.5 million, deducting a due from shareholders of HK$14 million, subject to certain adjustments and definitive agreements at the closing. \nAbout AGM Group Holdings Inc.\nIncorporated in April 2015 and headquartered in Beijing, China, AGM Group Holdings Inc. is an application software company, currently conducting three main business: 1) accounting and ERP software, 2) fintech software, and 3) trading education software and website service. For more information, please visit www.agmprime.com. \nForward Looking Statements\nThis news release contains \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as \"will,\" \"expects,\" \"anticipates,\" \"future,\" \"intends,\" \"plans,\" \"believes,\" \"estimates\" and similar statements. All statements other than statements of historical fact in this press release ...