Summary by Moomoo AI
Kongyu Yue Co., Ltd. (the “Contracting Party”) plans to privatize China China Pharmaceutical Holdings Limited (the “Company”) by means of a planned arrangement and withdraw its listed status. THE COMPANY ISSUED A JOINT ANNOUNCEMENT ON 21 FEBRUARY 2024 PROPOSING PRIVATISATION AND ORIGINALLY SCHEDULED TO SEND THE PLAN DOCUMENT TO SHAREHOLDERS ON OR BEFORE 13 MARCH 2024. However, due to the need for more time to meet the privatization prerequisites, the Contracting Party has agreed to extend the deadline for sending the plan documents to 25 October 2024, or seven days after all the prerequisites have been met, whichever is the earlier. The Company will make further announcements regarding the fulfilment of the prerequisites and delivery plan documents. Shareholders and potential investors should be aware that the privatisation proposal is subject to the fulfilment of preconditions and conditions or exemptions and may not necessarily take effect. The Chairman of the Board of Directors of the Company issued a warning on 11 March 2024 reminding shareholders and potential investors to exercise caution when buying and selling shares.