YGM Trading's sale of YGM Retail and the granting of intellectual property rights transactions have not been approved by shareholders
YGM TRADING's proposal to sell all shares of YGM Retail for HKD 34.2 million and grant the use of Ashworth intellectual property rights at the special shareholders' meeting was not approved. The voting results showed that 92.53% of the shares were against, while only 7.47% were in favor
According to a report from Economic Information Daily on the 5th, YGM Trading (00375) announced that at the special shareholders' meeting held yesterday, the proposal to sell 100% of YGM Retail's equity to three executive directors' brother, Chan Wing Ming, for HKD 34.2 million, as well as the DML agreement granting the group a non-exclusive license to use Ashworth's intellectual property by YGM Retail, were not approved by the shareholders. The group stated that both the sale and licensing agreements were voted on as ordinary resolutions, with 92.53% of the total voting shares opposing each ordinary resolution and 7.47% in favor. (wh)
