Lufax Holding Ltd, a Cayman Islands exempted company, has been the subject of a mandatory general cash tender offer by its controlling shareholders, An Ke Technology and China Ping An Insurance Overseas (Holdings) Limited, both subsidiaries of Ping An Insurance. The offer, triggered by the election for a scrip dividend as part of a special dividend distribution approved by shareholders on May 30, 2024, requires the offerors to acquire all outstanding ordinary shares and American depositary shares (ADSs) of Lufax, excluding those they already own. The offer price is set at US$1.127 per ordinary share and US$2.254 per ADS. The Independent Board Committee of Lufax, after consulting with Anglo Chinese Corporate Finance, Limited as the independent financial advisor, has recommended that shareholders...Show More

Lufax Holding Ltd, a Cayman Islands exempted company, has been the subject of a mandatory general cash tender offer by its controlling shareholders, An Ke Technology and China Ping An Insurance Overseas (Holdings) Limited, both subsidiaries of Ping An Insurance. The offer, triggered by the election for a scrip dividend as part of a special dividend distribution approved by shareholders on May 30, 2024, requires the offerors to acquire all outstanding ordinary shares and American depositary shares (ADSs) of Lufax, excluding those they already own. The offer price is set at US$1.127 per ordinary share and US$2.254 per ADS. The Independent Board Committee of Lufax, after consulting with Anglo Chinese Corporate Finance, Limited as the independent financial advisor, has recommended that shareholders and ADS holders reject the offer, deeming it not advisable and not in the best interests of the Company's shareholders or ADS holders. The offer commenced on September 27, 2024, and unless extended, will close on October 28, 2024. The offerors and Ping An Insurance have increased their control of Lufax from approximately 41.40% to 56.82% of the total issued ordinary shares following the settlement of the scrip dividend.