Following the transaction, GuGong and Lim will not hold any shares in No Signboard. They will also have ceased to be the company’s controlling shareholders.
No Signboard Holdings’ controlling shareholders, GuGong and Lim Yong Sim, has agreed to sell their total stake in the company for a consideration of $0.5 million. Sale and purchase agreements (SPAs) were signed with the purchasers, Wang Huan, Qi Aina and Yang Ji Hui, on March 20.
GuGong and Lim, the executive chairman of No Signboard, hold a total stake of 254.4 million shares, which make up 55.03% of No Signboard’s total share capital.
