CTF Services Limited (stock code: 00659) has confirmed the successful completion of Stage 1 for acquiring equity interests in uSmart Inlet Group Ltd and Genius Professional Enterprises Limited on November 7, 2025. Following this completion, the group now holds approximately 13.05% of the target company’s shares, with financial results accounted for under the equity method.
Under the newly signed amendment agreements, the Stage 1 Payment for each transaction now comprises solely the Stage 1 Consideration, removing any advance payment arrangements and associated share charges. As a result, the Stage 2 Payment will cover the remaining Stage 2 Consideration, minus mutually agreed costs and expenses. While the payment mechanics have changed, the total consideration for each acquisition remains the same, simplifying the overall settlement process and improving resource efficiency.
The target group primarily focuses on securities brokerage and financial technology software development across Hong Kong, Singapore, and the United States. Its subsidiaries include uSmart Securities Limited, uSmart Securities (Singapore) Pte. Limited, uSmart Capital LLC in New York, and Finsmart Solution Pte. Ltd. in Singapore, all specializing in online trading and comprehensive financial services.
According to the announcement, these acquisitions are classified as connected transactions and are subject to notification and announcement requirements. The Stage 2 completions hinge on the fulfillment or waiver of specific conditions precedent. Shareholders and potential investors of CTF Services Limited are advised to exercise caution when dealing in the company’s securities.
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