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Kingworld Medicines Unit Terminates MoU for Proposed Acquisition

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Kingworld Medicines Group (HKG:1110) unit Kingworld Medicine and Healthcare Group terminated a memorandum of understanding related to the proposed acquisition of the entire issued share capital of a target company, according to a Monday Hong Kong bourse filing.

The unit had entered into an understanding with the intended vendor and guarantors in January.

Following the termination, Kingworld Medicine and Healthcare Group requested the return of a HK$3.3 million deposit within five business days from June 15.

Kingworld Medicines said the termination is not expected to have any material adverse effect on the group's financial position or operations.

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