China International Development Corporation Limited (HK:0264) has released an update.
China International Development Corporation Limited announced the lapse of the Placing Agreement after conditions were not met by the closing date of 29 May 2024. This termination of the agreement means that neither the Placing Agent nor the Company will have any further claims against each other, except for specific outlined liabilities and the reimbursement of expenses up to HK$100,000 to the Placing Agent. The company’s board believes this development will not significantly affect the group’s business, operations, or financial status.
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