According to the announcement by S&T HLDGS (03928.HK) on September 27, the company was informed that the chairman, executive director and ultimate beneficial owner as well as the offeror's concerted action person Ho Chi Hong had entered into a placing agreement with CICC on September 12, 2024. Under this agreement, subject to certain conditions, as agent for Ho Chi Hong, CICC has agreed to use its best efforts to persuade an independent third party to subscribe for up to 16,170,000 shares held by Ho Chi Hong at a placing price of HK$0.2778 per share, representing approximately 3.37% of the total issued share capital of the company. The placement was completed on September 26, 2024.

Following the completion of the placement and as of the announcement date, 0.12 billion shares (25% of the total issued share capital of the company) are held by the public. Therefore, the company's public shareholding has been restored to no less than 25% of the total number of issued shares, in compliance with the provisions of Rule 8.08(1)(a) of the Listing Rules.