Founder Holdings (00418) : Six subordinate business platform companies are still in the process of related work

2022-06-11 0 By

Founder Holdings (00418) announced that as of the date of this announcement, six subordinate business platform companies are still in the process of acquiring part of the equity assets and other assets applicable to five companies such as Peking University Founder.In view of the large number of different types of assets involved in the restructuring process, their transfer is subject to approval and registration procedures by different departments;And the continuing development of the Novel Coronavirus outbreak.Therefore, it is difficult for the Company at this time to estimate the exact timing of the completion of the transfer.In addition, the transfer of the Company’s equity to the Business Platform Company is subject to certain conditions precedent and is subject to the implementation and timing of the relevant steps in the follow-up work of the Program, the exact timing of which is unknown to the Company.