Xinglu Water (02281) announced that the company received Luzhou Xinglu Investment Group Co., Ltd., the controlling shareholder of the company (Xinglu...
According to Zhitong Finance App, Xinglu Water (02281) announced that the company received a notice from Luzhou Xinglu Investment Group Co., Ltd. (Xinglu Investment), the controlling shareholder of the company, that as part of its development strategy, Xinglu Investment plans to reintegrate its resources. Xinglu Investment has transferred all of its direct holdings of about 512 million company shares (59.52% of the company's shares already issued on the date of this announcement) free of charge to its wholly-owned subsidiary, Luzhou Xinglu Asset Management Co., Ltd. on April 23, 2024.
After the share transfer is completed, Xinglu Asset has become the controlling shareholder of the company, which will trigger the obligation to make a mandatory comprehensive offer for all of the company's shares in accordance with Rule 26.1 of the “Code of Corporate Acquisitions and Mergers”. According to this, Xinglu Asset has applied, and the Securities and Futures Affairs Supervisory Commission exempted Xinglu Asset from making a full offer on the company's shares due to the share transfer on March 8, 2024.