K Group Holdings Limited (SEHK:8475) agreed to acquire 51% stake in PDR?s Dining Limited from Law Wai Leung for HKD 1 million on January 18, 2024. The 51% representing 765,000 shares of the PDR?s Dining Limited. Subject to the requirements of the GEM Listing Rules, the Purchaser shall have the right in its absolute discretion to elect to pay the Consideration any time within 12 months from the Completion Date by way of cash or by way of new Shares on the basis of the closing price of K Group?s Shares on the last trading day prior to the settlement date.

After Completion, the PDR?s Dining Limited will become a subsidiary of the K Group and its financial statements will be consolidated into the financial statements of the K Group. As of March 12, 2024, K Group has decided to pay the consideration by the allotment and issue of 1,582,280 Consideration Shares.