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KINGWELL GROUP LIMITED
京 維 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1195)
SECOND SUPPLEMENTAL AGREEMENT
MAJOR TRANSACTION IN RELATION TO
THE DISPOSAL OF 35% INTERESTS IN
THE TARGET COMPANY
Reference is made to the announcements of Kingwell Group Limited (the "Company") dated 21 June 2019, 12 July 2019, 26 July 2019, 7 August 2019, 16 August 2019 and 6 September 2019 in respect of the proposed disposal of 35% equity interests in an associate (the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless the context requires otherwise.
SECOND SUPPLEMENTAL AGREEMENT
On 9 September 2019, the Company and the Purchaser entered into the second supplemental agreement to the Sale and Purchase Agreement (as amended by the Supplemental Agreement) (the "Second Supplemental Agreement").
Pursuant to the Second Supplemental Agreement, in addition to the Conditions set out in the Announcements, the Completion shall only take place after the Consideration of RMB53.0 million (equivalent to approximately HK$60.4 million) had been received by the Company in full.
Save as disclosed above, all other terms of the Share Purchase Agreement (as amended by the Supplemental Agreement) shall remain unchanged and in full force and effect.
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The Directors consider that the terms of the Second Supplemental Agreement are fair and reasonable and the entering into of the Second Supplemental Agreement is in the interests of the Company and the Shareholders as a whole.
By Order of the Board
Kingwell Group Limited
Mu Dongsheng
Chairman
Hong Kong, 9 September 2019
As at the date of this announcement, the Board comprises Mr. Mu Dongsheng and Mr. Sze Ming Yee as executive Directors, Mr. Cheung Chuen, Mr. Ling Aiwen and Mr. Lu Lin as independent non-executive Directors.
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