NATIONAL ELEC H (ASX: 00213) has announced that on July 17, 2026 (after trading hours), the buyer, Tree Field Limited (an indirect wholly-owned subsidiary of the company), entered into a provisional agreement with the seller, Cerana Limited, regarding the acquisition of a property for a total cash consideration of HK$195 million.

Subject to the execution of a formal contract and the fulfillment of conditions precedent to be set out therein, the acquisition is expected to be completed on the completion date.

The property comprises three pieces of land in Sheung Wan, Hong Kong, registered in the Land Registry as the Remaining Portion of Subsection F of Inland Lot No. 863, Subsection E of Inland Lot No. 863, and the Remaining Portion of Subsection D of Inland Lot No. 863, together with the messuages, erections, and buildings thereon at Nos. 94, 96, and 98 Bonham Strand East, Hong Kong.

The board of directors believes the acquisition presents a favorable opportunity for the group to expand its property portfolio.

Considering current market conditions and the strategic location of the property, the directors deem the terms of the acquisition to be fair and reasonable, and in the overall interests of the company and its shareholders.