Summary by Moomoo AI
Jiamin Group Co., Ltd. (the “Jiamin Group”) announced on 9 February 2024 that the unconditional mandatory cash offer by Exchanges International Securities Limited on behalf of Central China Group Co., Ltd., for all of its issued shares has been terminated and has not been further amended or extended. As of the closing date, approximately 14.85% of the shares have accepted the tender offer, increasing the shareholding ratio of Central Army Group and its Consistent Operators to approximately 75.38%. The estimated settlement amount is approximately HK$13,361,168. IN ADDITION, JIAMIN GROUP'S PUBLIC SHAREHOLDING FELL TO APPROXIMATELY 24.54%, FALLING SHORT OF THE MINIMUM 25% PUBLIC HOLDING REQUIRED BY THE HKEX START-UP BOARD RULES. Central Group has pledged to take steps to restore the required minimum public shareholding and will apply for a temporary exemption to the HKEx.