Indigo Star (08373) and the presenter Xinyao Investment Co., Ltd. jointly announced that on January 26, 2024, Am...
According to the Zhitong Finance App, Indigo Star (08373) and the offender Xinyao Investment Co., Ltd. jointly announced that on January 26, 2024, Amber Capital Holdings Limited plans to sell 204.8 million sales shares to Xinyao Investment Co., Ltd., equivalent to 51.20% of the company's total issued share capital at the date of this joint announcement; the cost of selling shares is HK$13.312 million, equivalent to a sale of HK$65 per share.
According to Rule 26.1 of the Takeovers Code, upon completion, the offeror will be required to make an unconditional mandatory cash offer for all issued shares (excluding those that the offeror and those acting in concert with them have agreed to be acquired). The offer will be unconditional in every respect. HK$0.065 in cash for each offered share is approximately 3.0% off the closing price of HK$0.0670 per share compared to the closing price of HK$0.0670 reported on the Stock Exchange on the last trading day.
At the date of this joint announcement, the number of shares involved in the offer was 195.2 million shares, and the value of the offer was HK$12.688 million. As of the date of this joint announcement, all issued share capital of the Offeror is wholly and beneficially owned by Mr. Chen Ming.
Furthermore, the company has applied to resume trading of shares on the Stock Exchange from 9:00 a.m. on February 19, 2024.