NATIONAL ELEC H (ASX: 00213) has announced that on July 17, 2026, following the trading session, its buyer, Tree Field Limited—an indirect wholly-owned subsidiary of the company—entered into a provisional agreement with the seller, Cerana Limited, concerning the acquisition of a property for a total cash consideration of HK$195 million.

The acquisition is expected to be completed on the completion date, subject to the execution of a formal contract and the fulfillment of conditions precedent to be specified therein.

The property comprises three land parcels located in Sheung Wan, Hong Kong, registered in the Land Registry as the Remaining Portion of Subsection F of Inland Lot No. 863, Subsection E of Inland Lot No. 863, and the Remaining Portion of Subsection D of Inland Lot No. 863, together with the messuages, erections, and buildings thereon situated at Nos. 94, 96, and 98 Bonham Strand East, Hong Kong.

The board of directors believes that the acquisition presents a favorable opportunity for the group to expand its property portfolio.

Considering the current market conditions and the strategic location of the property, the directors deem the terms of the acquisition to be fair and reasonable, and in the overall interests of the company and its shareholders.