Pacific Legend is selling its stakes in two subsidiaries.

PACIFIC LEGEND (08547) announced that on January 21, 2025, the seller Miracle Ace International Limited (a wholly-owned subsidiary of the Company) and the buyer Zhang Zhengqiang entered into a transfer deed, whereby the seller has agreed to sell and the buyer has agreed to acquire the sale shares, which represent the entire issued share capital of the sale company (Bright Enterprise Limited and Macrolink Limited), for a total consideration of HK$2 million.

Upon completion, the sale company will no longer be a subsidiary of the Company and its financial information will no longer be consolidated into the Group's consolidated financial statements.

After considering the current property market and the Company's financial situation, the directors believe that it is beneficial to the Company to carry out the sale and realize the value of the properties held by the sale company, and the terms of the transfer deed and the transaction to be carried out under it are on normal commercial terms, which are fair and reasonable and in the overall interests of the Company and its shareholders.