Summary by Moomoo AI
Vida International Holdings Limited (the “Company”) announced on 22 March 2024 that the voluntary conditional cash contract offered by Isola Castle Ltd (the “Contracting Party”) for all issued shares of the Company (except those already owned by the Contracting Party and its Consistent Operator) has been accepted and has reached mandatory acceptance Purchase limit. As of 4:30 p.m. on the date of the announcement, approximately 90.40% of the proposed shares had been accepted by the underwriters, representing approximately 83.45% of the issued share capital. Since the acceptance level has exceeded 90%, the Contracting Party will compulsorily repurchase the remaining shares at a price of HK$23.50 per share and plan to privatize the Company. The listing status of the shares will be revoked in accordance with the Listing Rules. Tenders are due to close at 4pm on April 2, 2024 and will not be extended. THE COMPANY WILL ANNOUNCE FURTHER DETAILS AND TIMELINES OF THE COMPULSORY ACQUISITION.