Mayer Holdings Ltd. ( (HK:1116) ) has issued an update.
Mayer Holdings Limited, a company incorporated in the Cayman Islands, announced that its acquisition of Happy (Hong Kong) New City Group Limited did not meet the expected target profit level. As a result, Mayer Holdings is not obligated to fulfill the payment obligations under the Promissory Note, and the Consideration Shares will be returned to the company. The company plans to take legal action to retrieve the shares and claim damages against the vendor and guarantor for breaching the agreement.
More about Mayer Holdings Ltd.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$1.83B
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