TA Yang issues clarification on connected transactions tied to subsidiary disposal, acquisition

• TA Yang Group issued supplemental clarification on connected-transaction treatment for a 20 Nov 2024 settlement that disposed of 60% stake in a loss-making UK retail unit for GBP 1.8 million.
• Consideration comprised transfer of 100% of Yohome H.B. Ltd, valued at about GBP 1.5 million, plus GBP 323,415 in cash and inventories.
• Clarification cited audited loss on disposal of about HKD 6.1 million, mainly from foreign-exchange losses plus impairment charges.
• Company expressed “deep regrets” over unintentional failure to disclose disposal and acquisition as connected transactions, citing no intent to withhold information.
• Remedial steps include quarterly updates to connected-person lists across subsidiaries, with disputed cases referred to compliance for review.

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