Golik : Major Transaction - Disposal of a subsidiary - Extension of Completion Date

About this update from Golik Holdings Limited

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. MAJOR TRANSACTION DISPOSAL OF A SUBSIDIARY EXTENSION OF COMPLETION DATE Reference is made to the announcements of Golik Holdings Limited (the "Company") dated 16 October 2019 and 30 December 2019 respectively and the circular (the "Circular") of the Company dated 21 January 2020 in relation to, among others, the disposal by Fulwealth Metal Factory Limited ("Fulwealth"), a wholly-owned subsidiary of the Company to Madam Deng Qian (the "Purchaser") of all the issued share in Steel Wealth Metal Limited ("HK Steel Wealth") and the shareholder's loan owed by HK Steel Wealth to Fulwealth as at the Completion Date. Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meanings as defined in the Circular. Pursuant to the SP Agreement, subject to the fulfilment (or, where applicable, waived) in full of the conditions precedent set out in the SP Agreement, Completion shall take place on a date on or before 30 September 2020 (or such later date as may be agreed in writing between Fulwealth and the Purchaser) as designated by Fulwealth and the Purchaser. It is further provided in the SP Agreement that if all the conditions precedent set out in the SP Agreement shall not have been fulfilled (or, where applicable, waived) on or before 30 September 2020 or such later date as may be agreed in writing between Fulwealth and the Purchaser (the "Long Stop Date"), all the rights and obligations of the parties to the SP Agreement shall cease immediately (save for the provisions relating to, among others, confidentiality, costs and expenses, notices and governing law), and no party to the SP Agreement shall have any claim against or liability to the other. 1 For the reason that the circumstances arising from the prevailing novel coronavirus pandemic are causing huge difficulty to the Purchaser in travelling from the PRC to Hong Kong to effect Completion on or before 30 September 2020, Fulwealth and the Purchaser have mutually agreed in writing to extend: the date by w...

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