Tianhong Cultural and Creative (08500) issued an announcement. The board of directors has been informed by the controlling shareholder that negotiations between the controlling shareholder and the potential buyer on the potential sale have been terminated. As of the date of this announcement (including that date), the controlling shareholder and the potential buyer have not entered into any formal or legally binding agreement on the potential sale. As a result, the potential sale of shares to potential buyers will not proceed.
For the purposes of the Takeovers Code, the offer period ends on the date of this announcement.
The board of directors has been informed by the controlling shareholder that the controlling shareholder is in negotiations with another potential buyer (current potential buyer) on the possibility that the controlling shareholder may sell certain shares of the company to the current potential buyer (current potential transaction), but the current potential transaction will not trigger the mandatory overall contract liability under Rule 26.1 of the Takeovers Code.
As far as the takeover code is concerned, the current potential deal will not cause the offer period to begin.