According to the Zhitong Finance App, JBB BUILDERS (01903) issued an announcement. According to the Astaka Padu-jbB Kimlun settlement agreement, Astaka PADU and JbB Kimlun agree that the unexercised counterbalance options will be terminated when the cancellation option period expires (that is, after 6:00 p.m. on August 31, 2024) or on the settlement date of all outstanding contract amounts (whichever is earlier). According to the reverse option document, if for any reason the reverse option is not exercised in the manner specified in the cancellation option document during the redemption option period, the counterbalance option will expire.
As of March 7, 2024, Astaka Padu has settled all outstanding contract amounts with JBB Kimlun, and JBB Kimlun has settled all outstanding sub-contract amounts with Kimlun. As a result, according to the Astaka Padu-JbB Kimlun settlement agreement and countervailing option documents, JBB Kimlun terminated the option, and the right to nominate Kimlun itself or its substitute as the recipient of 6 counterbalance options was also terminated in accordance with the JBB Kimlun-Kimlun settlement agreement, the reverse option documents, 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.