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S&T Holdings Appoints Capital 9 as Financial Advisor Regarding Share Purchase Offer
S&T Holdings (03928.HK): Ninth Capital Limited has been appointed as the independent financial advisor.
On July 16th, Gelunhui reported that S&T HLDGS (03928.HK) announced that the Ninth Capital Co., Ltd. has been appointed as the company's independent financial advisor to advise the independent board of directors and independent shareholders on whether the tender offer is fair and reasonable and whether the offer should be accepted. According to Rule 2.1 of the Takeover Code, the appointment of an independent financial advisor has been approved by the independent board of directors.
S&T Holdings changes ownership with acquisition of controlling stake and receives a full tender offer.
S&T Holdings (03928) and the offeror Alpine Treasure Limited jointly announced that the offeror will purchase 0.36 billion shares from the seller at a price of HKD 0.1 billion (approximately HKD 0.2778 per share for each sale share), which represents 75% of the total issued share capital of the company. The completion of the transaction was confirmed on July 10, 2024. Following completion and as of the date of this joint announcement, the offeror and its concerted parties hold approximately 0.376 billion shares, or 78.37% of the total issued share capital of the company. As the completion has been confirmed, the offeror shall comply with Rule 26 of the Takeovers Code.
Change in controlling shareholder for S&T Holdings (03928), acquired through a full buyout offer.
S&T HLDGS (03928) and the offeror Alpine Treasure Limited jointly announced that the offeror acquired 0.36 billion shares from the seller at a price of HKD 0.1 billion (approximately HKD 0.2778 per share for the shares for sale), accounting for 75% of the total issued share capital of the company, which was completed on July 10, 2024. Following the completion and as of the date of this announcement, the offeror and its concert parties hold approximately 0.376 billion shares, accounting for 78.37% of the total issued share capital of the company. As the completion has been implemented, the offeror shall
S&T Holdings (03928.HK) resumed trading this morning.
On July 10th, Gelonhui announced that the shares of S&T HLDGS (03928.HK) will resume trading at 9:00 am today (10/7/2024).
S&T Holdings (03928) intends to obtain a discount of approximately 78.79% for the full acquisition bid. Trading will resume on July 10th.
According to the joint announcement from S&T Holdings (03928) and the offeror Alpine Treasure Limited on June 19, 2024, Hongde Holdings Limited plans to sell 0.36 billion shares of available-for-sale stock to the offeror, which is equivalent to 75% of the total issued share capital of the company as of the date of this joint announcement, for a total cash consideration of 0.1 billion HKD (i.e., HKD 0.2778 per share of available-for-sale stock). Upon completion of the transaction, the offeror and its concerted parties will hold a combined approximately 0.376 billion shares of the company's stock, accounting for approximately 78.37% of the company's total issued share capital. Therefore,
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