Jiayao Holdings (01626) terminated the acquisition of 80% of Ninety Investment Holding Limited's shares

Zhitong Finance App News, Jiayao Holdings (01626) announced that on August 12, 2026, the company (as the buyer), the seller Ninety Investments Holding Limited and the guarantor entered into a sales agreement. According to this, the company has already agreed to the acquisition, and the seller has already agreed to sell the shares to be sold, which is equivalent to 80% of the total number of shares issued by the target company Ninety Investment Holding Limited. The maximum cost is 430.5 million Hong Kong dollars, matters relating to the allocation and issuance of consideration shares (recorded as fully paid) by the Company to the seller at the issue price of HK$21.00 per share under a general mandate.

After entering into a sales agreement, the Company conducts further due diligence on the target group and further assesses the potential tax impact of the acquisition. After considering the uncertainty that the acquisition may cause corporate income tax and related withholding tax liability and its potential impact on future business cooperation, after fair discussion, the Company, the seller and the guarantor entered into a termination agreement (termination agreement) of the sale agreement on September 4, 2026. Based on this, the contracting parties agreed to terminate the sales agreement, which will take effect from the date of termination of the agreement. As a result, the acquisition will not take place.

Under the termination agreement, no contracting party is required to pay any compensation or penalty to any other contracting party for such termination. The Board believes that the termination of the sale agreement will not have any significant adverse impact on the Group's financial position and operations.

The Group will continue to seek suitable business opportunities and further enhance its diversified revenue sources and overall competitiveness.