Hong Kong Resources Holdings (02882) and Lukfook Group (00590) jointly announced that Chuangyue Finance Limited represents...
Zhitong Finance App News, Hong Kong Resources Holdings (02882) and Lukfook Group (00590) jointly announced that Chuangyue Capital Limited made a possible unconditional mandatory cash offer on behalf of Lukfook Prestige Investment Group Limited to acquire all issued shares of Hong Kong Resources Holdings Limited and cancel all outstanding share options of Hong Kong Resources Holdings Limited. On January 11, 2024, the offender, Mr. Lee and Zhuo Sheng entered into a second supplementary agreement to the Zhuo Sheng trading agreement. Accordingly, the contracting parties agreed (among others) to sell each Zhuo Sheng shares HK$0.70 was raised to HK$0.748 and trading of shares sold by Mr. Lee was exempted.
On January 11, 2024, the offender, Mr. Wong and Grace Fountain entered into the second supplementary agreement to the Grace Fountain Sale Agreement. According to this, the contracting party agreed to raise the price of each Grace Fountain sale share from HK$0.70 to HK$0.748 and exempt the first batch of convertible bonds. Therefore, according to the Grace Fountain sale agreement, only Grace Fountain sales shares will be traded.
On January 11, 2024, the offender, Mr. Duan, and Excel Horizon entered into the second supplementary agreement to the Excel Horizon sales agreement. According to this, the contracting party agreed to raise the price of each Excel Horizon sale share from HK$0.70 to HK$0.748 and exempt the sale of the second batch of convertible bonds. Therefore, according to the Excel Horizon sales agreement, only Excel Horizon sales shares will be traded.
As a result, the offer price of each share offered will be raised from HK$0.70 in cash to HK$0.748 in cash.
Assuming that all outstanding share options are exercised before the end of the offer, Hong Kong Resources will be required to issue 1.05 million new Hong Kong Resources shares. Assuming that the share offer (including new shares issued by Hong Kong Resources as a result of the exercise of such exercisable share options) is fully accepted, the maximum amount payable by the offeror is approximately HK$98.9407 million, which will be disbursed from the offeror's internal resources.