China Partytime Culture's (HKG:1532) subsidiary Partytime Group agreed to extend the long stop dates for its equity transfer agreement with Zhejiang Bestway Costume & Accessory and its leaseback arrangement with Zhejiang Zhongpai Enterprise Management to March 31, a Wednesday Hong Kong bourse filing said.
Partytime Group had agreed to sell the entire registered capital of Zhejiang Zhongpai Enterprise Management to Zhejiang Bestway Costume & Accessory for 80 million yuan on Nov. 19, 2024.
On the same date, Partytime Group entered into a lease agreement with Zhejiang Zhongpai Enterprise Management to rent certain premises within the Industrial Park in Yiwu City, Zhejiang Province.
The long stop date for both agreements was set to Jan. 31 but as the parties require additional time to fulfill certain conditions of their respective agreements, the parties have agreed to extend the long stop date.
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