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

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 Company will hold an Extraordinary General Meeting to approve the Contract and Purge Waiver. The Offer Document will be sent to shareholders as soon as possible, which will include the detailed terms of the agreement, comments from the independent financial advisor, letters from the Independent Board of Directors, etc. Shareholders and potential investors should exercise caution and consult with professional advisors if in doubt.