Summary by Futu AI
China National Pharmaceutical Group Co. has proposed the privatization of China Traditional Chinese Medicine Holdings Co., Ltd. (the "Company") through an arrangement plan and plans to delist the Company. According to the joint announcement on February 21, 2024 and thereafter, the implementation of the privatization proposal requires certain conditions to be fulfilled. The Offeror is actively preparing relevant documents and communicating with relevant authorities to meet the preconditions. This includes notifications, filings or applications related to applicable overseas direct investment laws and regulations and China's anti-monopoly law. The Company will timely disclose the fulfillment of preconditions and the mailing of the plan documents in accordance with the rules of acquisition. Shareholders and potential investors should note that the privatization proposal is not yet finalized and should act cautiously. This joint announcement is issued by Mr. Chen Yinglong, Chairman of the Board on behalf of the Offeror and the Company, and is dated June 13, 2024.