I-Control Holdings Limited (01402) and the offeror LUXURIOUS BAY CAPITAL LIMITED jointly announced that the offer expired on Tuesday, July 30, 2024 at 4:00 p.m. The offeror did not revise or extend the offer.
Smartkarma Financial News App: I-Control Holdings Limited (01402) and the offeror LUXURIOUS BAY CAPITAL LIMITED jointly announced that the offer expired on Tuesday, July 30, 2024 at 4:00 p.m. The offeror did not revise or extend the offer.
At 4:00 p.m. on Tuesday, July 30, 2024 (the last time and date for accepting the offer as shown in the comprehensive document), the offeror received valid acceptances of three copies of a total of 2.1 million shares under the share offer, representing approximately 0.20% of the total issued share capital of the company as at the date of this joint announcement; and valid acceptances of the share option offer were not received. The total consideration of the offer is HKD 4.83 million.
After taking into account the valid acceptances of 2.1 million shares under the share offer (which must be registered for the transfer of the offer shares upon receipt of valid acceptances at the registration office after the offer has ended), the offeror and the offeror's concert parties will together hold approximately 75.2 billion shares, representing approximately 71.60% of the total issued share capital as at the date of this joint announcement and after the offer has ended.
In addition, Mr. Chung Nai-hung and Mr. Yau Wing-keung have resigned as executive directors and will take effect immediately after this joint announcement is published on July 30, 2024. As Mr. Lai Kai-ming wishes to devote more time to other business, he has also tendered his resignation as an independent non-executive director, which will take effect from the publication of this joint announcement on July 30, 2024. After resignation, he will no longer serve as chairman of the company's remuneration committee and as a member of the company's audit committee and nomination committee, and independent non-executive director Ms. Ng Hung-yu has been appointed as chairman of the company's remuneration committee to succeed him.
Huang Jingqiang has been transferred from a non-executive director to an executive director and appointed as chairman of the board of directors, with immediate effect from the publication of this joint announcement on July 30, 2024.