Summary by Futu AI
Hong Kong Technology Exploration Limited (stock code: 1137) announces that on its behalf, New Bailey Finance Limited has submitted a conditional cash offer to repurchase up to 1 million shares at a price of HK$2.15 per share, equivalent to approximately 11.25% of the issued shares. This repurchase will not exceed the maximum number and there is no limit on the minimum repurchase amount. The total cost of the contract, if fully accepted, will be HK$215 million and will be paid by the Group's internal resources. The implementation of the agreement is subject to conditions such as obtaining more than 50% independent shareholder voting approval. Top Group and its Consistent Operators have made an irrevocable undertaking that they will not accept the offer. The...Show More