La Natsu Bell Intends To Pfer 200 Million Yuan To 54.05% Stake In Hangzhou

La Natsu Bell (06116.HK) announces that the company intends to pfer 54.05% of the shares of the Agel Ecommerce Ltd in Hangzhou (hereinafter referred to as "Hangzhou dim sum" or "target company") in the pfer of Hangzhou Yan Er business management consulting Co., Ltd. (hereinafter referred to as "Transferee", the company's associated natural person Cao Qing holds 100% of its shares). The pfer price is 200 million yuan (the same below), and the proceeds from the sale will mainly be used for the development of the company's business.

Since the pferee will pay the share pfer price in installments, the pferee agrees to pledge the 54.05% equity interest of the underlying company held after the equity delivery to the company after completion of the paction. Meanwhile, the trademark exclusive right of the targeted company will be mortgaged to the company as a guarantee measure for the pferee to pay the share pfer price.

In addition, Cao Qing, as the sole shareholder of the pferee, is jointly and severally liable for the pferee's obligation to pay equity pfer.

It is understood that Hangzhou was founded in January 2010, mainly marketing and selling seven grid, OTHERMIX and OTHERCRAZY online apparel brands.

In 2017 and 2018, the total revenue of the target company was 519 million yuan and 504 million yuan respectively, and the net profit was 143 million yuan and 64 million 354 thousand and 100 yuan respectively.

This paction is based on the company's business planning and development strategy adjustment needs, and is conducive to the company's withdrawal of funds, in line with the company's long-term development direction.

The paction is fair and reasonable, and there is no damage to the interests of the company and all shareholders.

After the completion of the paction, the company will no longer hold shares in Hangzhou, and Hangzhou involvement will no longer be included in the consolidated statement.

Up to now, the company does not have any guarantee, financial support, entrusted financial management and other funds to Hangzhou listed companies.