Platt Nera International Limited (1949) referenced announcements dated 10 June 2025 and 30 December 2025 regarding the disposal of a subsidiary and confirmed an extension for the balance of the payment. According to the latest information, the purchaser formally requested extending the payment deadline from 31 December 2025 to 30 June 2026, citing the need for additional time to arrange the remaining funds.
The board of directors approved the extension based on several considerations. First, partial payments totaling HK$4,000,000 have been received, representing 31.2% of the agreed consideration. The purchaser also has security arrangements in place, including a personal guarantee from the purchaser guarantor and a share charge over the entire issued share capital of the target company. Further assessments noted that the guarantor’s assets are sufficient to cover the outstanding consideration.
In addition, the board viewed the extension as a commercially reasonable measure that preserves goodwill and avoids potential costs or delays associated with enforcing security. All other terms under the existing sale and purchase agreement, including the purchaser guarantor’s obligations and the company’s rights under the share charge, remain in full effect.
The date for settlement now stands at 30 June 2026. The board stated that the extension mitigates risks and maximizes the likelihood of securing the full remaining payment. Other details in previous announcements remain unchanged.
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