Glonghui, May 22丨Hong Kong Science and Technology Exploration (01137.HK) announced that New Berry Finance Limited will make a conditional cash offer on behalf of the company to repurchase and cancel the maximum number of shares (i.e. 100 million shares, accounting for about 11.25% of the shares issued on the date of this announcement) at an offer price of HK$2.15 per share. The company will not repurchase more than the maximum number of shares, and there is no recommended minimum number of shares to be repurchased in the offer.

The offer price is approximately 20.8% premium over the closing price of HK$1.78 reported on the Stock Exchange on the last trading day. The offer will be made in accordance with the Code. The price of the offer (a total of HK$215 million if the offer is fully accepted) will be paid in cash to the accepting shareholders and will be disbursed from the Group's internal resources. New Berry has been appointed as the company's financial advisor in connection with the offer.