Core Viewpoint - Raffles Interior (01376) announced a significant acquisition involving the purchase of 100% equity in Kun Yuan Assets Limited from China Jin Hong Holdings Limited, with a total consideration of HKD 300 million, which may constitute a very substantial acquisition and potential connected transaction [1] Group 1: Acquisition Details - The acquisition agreement was signed by the new chairman and executive director, Zheng Nenghuan, on November 3, 2025, and the company's shares were suspended from trading starting November 4, 2025, pending further announcements regarding the acquisition [1] - The target company, Kun Yuan Assets Limited, is registered in Hong Kong and holds 100% equity in Shenzhen Jin Xuan Technology Co., Ltd., which possesses land use rights for a specific plot in Shenzhen [1] - The acquisition is subject to conditions, including obtaining shareholder approval through a special general meeting [1] Group 2: Board's Response - Following the suspension of trading, the board reviewed the pros and cons, feasibility, and legality of the acquisition, with differing opinions among board members regarding the authorization of the agreement signed by Zheng Nenghuan [2] - The board expressed concerns about the company's financial capacity to pay the cash consideration for the acquisition and the potential perception of the acquisition as a defensive action by the stock exchange [2] - Ultimately, the board voted against the acquisition in its current form, with no intention to proceed with the acquisition at this stage [2] Group 3: Trading Resumption - The company has applied for the resumption of trading of its shares on the stock exchange starting November 11, 2025 [3]
RAFFLESINTERIOR(01376)：新任董事会主席郑能欢拟收购鲲元资产100%股权 11月11日复牌