Langting-SS (01270) announced that after the trading session on April 2, 2024, the company and the custodian-manager...
According to Zhitong Finance App, Langting-SS (01270) announced that after the trading session on April 2, 2024, the board of directors of the company and the custodian-manager received a written notice from Yingjun Group Co., Ltd., stating that Yingjun Group intends to put forward a detailed proposal to privatize the trust and company and withdraw its joint stock listing status through an agreement arrangement. As of April 3, 2024, Yingjun and its subsidiaries held approximately 2,331 million joint stock positions, accounting for about 70.23% of the issued share contracts. However, Eagle King or any other party has not made a firm offer for securities relating to this trust and company. As a result, privatization or other offers may or may not take place.
For the purposes of the Takeover Code, the offer period commences on the date of this announcement (i.e. April 3, 2024).
Furthermore, trading of share joint stock positions has been suspended since 9:00 a.m. on April 3, 2024, pending publication of this announcement. The custodian-manager (who acts as the custodian-manager of the Langham Hotel investment) and the company have applied to the Stock Exchange to resume trading on the Stock Exchange from 9:00 a.m. on April 5, 2024.