Moody Technology Holdings Ltd. announced the signing of a sales and purchase agreement with businessman Dr. Chang Cheng Hui, an independent third party to the Group. Under this agreement, Potent Union Holding Limited, a wholly-owned subsidiary of Moody Technology Holdings, will sell the entire share capital of Moody Group (Int') Holding Limited to Dr. Chang for a nominal consideration of HK$1, payable in cash. Additionally, the amounts owed to the company by Moody Group will be assigned to Dr. Chang for the same nominal value. This transaction is part of Moody Technology Holdings' ongoing efforts to address its Audit Qualification, as mentioned in their 2024 Annual Report.
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