Gelonghui June 29th 丨Hushi Media (01163.HK) issued an announcement. The board of directors was informed by Westel and Taschh that they had recently signed a sale agreement with the buyer. Based on this, Westel and Taschh agreed to sell 30 million shares and 60 million shares to the buyer, accounting for about 4.02% and 8.03% of the company's issued share capital on the date of this announcement. The total cash costs were HK$4 million and HK$6.6 million respectively (i.e. approximately HK$0.1333 and HK$11.0 per share).

The sale was completed on June 29, 2023. After the sale was completed: (i) Westel remained the controlling shareholder of the company; (ii) Taschh ceased to be the principal shareholder of the company; and (iii) no buyer became the principal shareholder of the company.