Summary by Moomoo AI
Guoyao Group Gongyu Co., Ltd. (the "Offeror") is proposing privatization of China Traditional Chinese Medicine Holdings Co., Ltd. ("China Traditional Chinese Medicine") and suggesting the revocation of its listing status through a planned arrangement. Since February 21, 2024, the Offeror and China Traditional Chinese Medicine have jointly issued multiple announcements updating the privatization process and monthly progress. The latest announcement shows that the Offeror is completing the necessary notices, filings or applications related to applicable overseas direct investment laws and regulations and China's antitrust laws to meet the precondition of privatization. Shareholders and potential investors are reminded that the implementation of the proposal is still subject to the satisfaction or waiver of precondition. China Traditional Chinese Medicine will release further announcements at the appropriate time. This announcement is issued on behalf of the Board of Directors by Mr. Chen Yinglong, Chairman of the Board of Directors, dated July 15, 2024.