On March 7 | JBB BUILDERS (01903.HK) issued an announcement. According to the Astaka Padu-JbB Kimlun settlement agreement, Astaka PADU and JBB Kimlun agree that unexercised counterbalance options will end when the cancellation option period expires or on the settlement date of all outstanding contract amounts.
As of March 7, 2024, Astaka PADU has settled all outstanding contract amounts with JBBKimLun, and JBB Kimlun has settled all outstanding sub-contract amounts with Kimlun. As a result, (i) JBB Kimlun terminated the option in accordance with the Astaka Padu-JbB Kimlun Settlement Agreement and the reverse options document, and (ii) the right to nominate Kimlun or its representative as the recipient of six (6) counterbalance options was also terminated in accordance with the JBB Kimlun-Kimlun Settlement Agreement, the reverse option document, and the Astaka Padu-JbB Kimlun Settlement Agreement. The termination of a counterbalance option does not involve payment of any amount through fines, damages, or other compensation, and is therefore not considered a transaction under section 14.73 of the Listing Rules.