GT GOLD to Acquire Full Stake in Changsheng United Investment for HK$585 Million

Deep News03-31

GT GOLD (08299) announced that on March 30, 2026, the buyer (the Company) entered into an agreement with the seller, Cathay Gold Investment Holdings Limited. Under this agreement, the buyer conditionally agreed to purchase, and the seller conditionally agreed to sell, the sale shares for a total consideration of HK$585 million. The consideration will be settled partly in cash and partly through the issue and allotment of consideration shares. The consideration shares will be issued and allotted under a general mandate.

The sale shares consist of one share, representing the entire issued share capital of the target company, Changsheng United Investment Limited.

The target group, through its project companies (Jincheng Mining and Bubugao Mining), holds exploration permits and mining licenses related to gold mines and gold. It also possesses exploration, mining, and mineral processing facilities. Upon completion of the acquisition, the Company will hold the entire issued share capital of the target company, which will become a direct wholly-owned subsidiary of the Company. The financial performance, assets, and liabilities of the target group will be consolidated into the Company's consolidated financial statements and accounted for as a subsidiary.

The Board of Directors believes that the acquisition will strengthen the Group's mineral portfolio, supporting the Group's sustainable growth and potential profitability.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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