Summary by Futu AI
HK Tech Venture Limited (the "Company") announced that Somerley Cap Limited has submitted a conditional cash offer on behalf of the Company to repurchase up to 100 million shares at HKD 2.15 per share. The Company has also applied for a waiver of the mandatory unconditional cash offer obligation and an extension of the time for dispatching the offer document. The scheduled date for dispatching the offer document has been postponed due to the need to collate certain information and has been agreed by the Executive to extend the final date to on or before June 14, 2024. The offer is subject to the fulfillment of all conditions and will not proceed and will immediately lapse if the waiver is not granted or the independent shareholders do not pass the relevant resolution. Shareholders should read the offer document, including letters of opinion from the independent directors committee and the independent financial adviser, and vote on the offer and waiver at the special general meeting. Shareholders who have any questions should seek independent professional advice.