AGM Group Holdings Inc., an application software company providing accounting and ERP software, fintech software, and trading education software and website service, is pleased to announce that through its wholly-owned subsidiary, AGM Technology Limited, the Company has entered into a letter of intent (“LOI”) on August 7, 2020, with the shareholders of Safe Gold Financial Holdings Limited to acquire 100 percent equity interest in Safe Gold and its wholly-owned subsidiary Safe Gold Securities and Futures Limited.
Recommended AI News: Skills to Master Before your First Data Science Interview
Safe Gold is a Hong Kong-based financial services company which, through its wholly-owned subsidiary Safe Gold SF, holds Hong Kong Financial Services Licenses Type 1 (Dealing of Securities), Type 2 (Dealing in Futures Contracts), Type 4 (Advertising on Securities), Type 5 (Advertising on Futures Contracts), and Type 9 (Asset Management). Safe Gold is also a participant and trading right holder of both HKEX and HKFE.
Recommended AI News: AVCtechnologies Announces Agreement to Buy Ribbon’s Kandy Communications Business
Pursuant to the LOI, the total consideration of the proposed all-cash transaction is set to equal the combined net asset value for Safe Gold and Safe Gold SF as of June 30, 2020, plus a premium of HK$8.5 million, deducting a due from shareholders of HK$14 million, subject to certain adjustments and definitive agreements at the closing.