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ZC TECH GP(08511.HK):63.585%股权易手致折价逾四成提全购 明日复牌

ZC TECH GP (08511.HK): 63.585% of the shares changed hands and sold at a discount of more than 40%. The stock will resume trading tomorrow.

格隆滙 ·  Nov 25, 2021 10:06

Gelonghui, 25th November, ZC TECH GP (08511.HK)It is announced that the board of directors has won the seller.IFG Swans Holding Ltd. Notice, joint offeror (includingDingyu,Zhang Zhilong andFar surplus), the seller and guarantor Wu dysprosium entered into a sale and purchase agreement on November 18, 2021, under which the joint offeror has agreed to purchase and the seller has agreed to sell the shares for sale, that is, 254 million shares, equivalent to 63.585% of the issued share capital of the company at the date of the joint announcement, the consideration is HK $47.6888 million (that is, HK $0.1875 per share for sale).

Immediately upon completion, the joint offeror and the joint offeror acting in concert will have a total interest in 254 million shares (of which Dingyu will have an interest in 140 million shares, Zhang Zhilong will have an interest in 63.585 million shares, and Yuanying will have an interest in 50.868 million shares). Equivalent to 63.585% of the company's issued share capital. A mandatory unconditional cash offer is routinely made at a cash offer price of HK $0.1875 per share, with a discount of about 48.63% on November 18, 2021.

According to the announcement, the joint offerors include Dingwei, Zhang Zhilong and Yuanying, of which Dingyu is wholly owned by Huang MinzhiHuang MinzhiMore than six years of experience in cemetery investment and management, funeral services and property investment.Yuanying is wholly owned by he Junjie.He JunjieHave rich experience in finance and investment. He is currently the executive director and chief executive of Zhongtian Shun Lian (International) Holdings Limited (stock code: 0994, a company listed on the main board of the Stock Exchange).

The Group is mainly engaged in providing intelligent manufacturing solutions in China, including selling equipment and providing related technical services.

Upon completion, the joint offeror becomes the controlling shareholder of the company and owns 63.585% of the issued share capital of the company. Upon completion of the offer, while the Group's main business continues, the Joint Offeror will assist the Group in reviewing its existing capabilities and resources to formulate a detailed business plan and strategy, or to develop new business opportunities. According to the results of the review, the joint offeror intends to use Huang MinzhiTo explore the business opportunities in the funeral service business (including the sale of cemeteries and the provision of cemetery maintenance services) with a view to creating better returns for the company.

In addition, the company has applied to the Stock Exchange for the resumption of trading of the shares at 9: 00 a.m. on 26 November 2021.

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