Elate Holdings Limited (SEHK:76) entered into an agreement to acquire 9.9% stake in Scientific Energy, Inc. for HKD 8.8 million.
September 19, 2022
Share
Elate Holdings Limited (SEHK:76) entered into an agreement to acquire 9.9% stake in Scientific Energy, Inc. (OTCPK:SCGY) for HKD 8.8 million on September 19, 2022. Under the terms of the agreement, Elate Holdings will acquire 26,000,000 shares of Scientific Energy, and will swap its 250,250,000 shares with the individual seller. Upon Completion, Elate Holdings will own 9.87% of Scientific Energy's capital shares, and the Swap Shareholder will own 3.45% of the Elate Holdings' ordinary shares.
The transaction is subject to Listing approval by the stock exchange for the swap shares.
Scientific Energy, Inc. is a mobile platform for ordering and delivery services for restaurants or other merchants. The Company operates in Macau and its businesses are built on its platform, Aomi App (the Platform). The Platform connects restaurants/merchants with consumers and delivery riders. It offers customers access to the Platform primarily through its mobile applications designed for iPhone, Android, and iPad devices. In addition to food, customers can also order grocery and other non-food merchandise through its Platform, Aomi Supermarket, such as fruits and vegetables, meat, poultry, eggs and milk, seafood and aquatic products, grain, oil, seasoning, snacks, beverages and other groceries. The Platform allows customers to direct delivery riders to purchase the desired merchandise at the Aomi Supermarket and deliver to them. The Company's subsidiaries include Macao E-Media Development Company Limited, a Macau Company and Gold Gold Gold Limited (3G), a Hong Kong company.
SCIENTIFIC ENERGY, INC. 