Zhitong Financial APP News, Longxiang Group (00935) announced that the offer has closed at 04:00 on April 6, 2022 (that is, the offer deadline) and has not been modified or extended.

At 04:00, the closing date of the offer, taking into account the acceptance under the irrevocable undertaking, an offer in respect of 1.21 billion shares, representing approximately 99.15% of the issued share capital of the Company as at the date of this announcement, has been effectively accepted. Such acceptance will result in a total of 1.21 billion shares held by the offeror and the offeror acting in concert (representing approximately 99.15% of the issued share capital of the Company as at the date of this announcement).

As the offeror has received valid acceptance under the offer for not less than 90% of the offer shares and not less than 90% of the uninterested shares, the offeror will, by exercising its compulsory acquisition right, compel the acquisition of those offer shares which are not owned by the offeror or are acquired under the offer on the same terms as the offer (i.e. at HK $1.28 per share).

The company will apply to the Stock Exchange to withdraw the listing status of its shares on the Stock Exchange in accordance with Rule 6.15 (1) of the listing rules, which is currently expected to be August 2022. The shares of the company listed on the Stock Exchange will continue to be traded until the date on which the shares are withdrawn from listing on the Stock Exchange.