China Tong Finance APP News, Edico Holdings (08450) and the offeror Baoting Management Limited jointly announced that on October 8, 2024, the offeror completed the acquisition of 0.56 billion shares of the company, equivalent to 56.0% of the total issued share capital of the company as of the date of this joint announcement, for a total cash consideration of 33.6 million Hong Kong dollars, that is, 0.06 Hong Kong dollars per share sold.

Following the completion, the offeror and its concert parties jointly hold 0.56 billion shares, representing 56.0% of the total issued share capital of the company. Therefore, the offeror shall, in accordance with Rule 26.1 of the Takeovers Code, make an offer for all the issued shares not already owned or agreed to be acquired by the offeror and its concert parties. The cash price per share of the offer shares is 0.06 Hong Kong dollars, representing a premium of approximately 39.53% over the closing price of 0.0430 Hong Kong dollars per share as reported on the Stock Exchange on October 7, 2024 (i.e., the last trading day). Based on a total of 0.44 billion offer shares and an offer price of 0.06 Hong Kong dollars per offer share, the offeror shall pay a maximum cash consideration of 26.4 million Hong Kong dollars for full acceptance of the offer.

In addition, the company has applied for the resumption of trading on the Stock Exchange from 9:00 am on October 16, 2024.