DeHeng Hong Kong advised Future World Holdings Limited on a major and connected transaction

2024-08-14

DeHeng Hong Kong advised Future World Holdings Limited (未來世界控股有限公司) (“Future World”, together with its subsidiaries, the “Group”) (stock code: 572) on the assignment of certain receivables of over HK$65.7 million in aggregate due and payable together with the corresponding share charges to one of its executive Director who is also a substantial shareholder of the Group at a consideration of HK$65.7 million (the “Assignment”).

The Assignment constituted a major and connected transaction under Chapters 14 and 14A of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited. The Assignment has been completed upon the approval by the shareholders of Future World in an extraordinary general meeting held on 5 August 2024.

Future World is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is an investment holding company. The Group is principally engaged in property investment, provision of financing services, securities trading and investment, securities brokerage business and hotel operation and ancillary business.

The deal was led by lead partner Boaz Cheung of DeHeng Hong Kong and supported by associate Chloe Yuen and trainee solicitor Syndi Ling. DeHeng Hong Kong worked closely with Future World and other professional parties to provide professional, comprehensive and efficient legal services for this project.