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| Wednesday, 31 May 2017, 11:05 HKT/SGT | |
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- The Liquidity of the H Shares May be Severely Reduced after Delisting on 16 June 2017
- The Latest Time and Date for the Offer Remaining Open for Acceptance is 4:00 p.m. on 26 June 2017
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HONG KONG, May 31, 2017 - (ACN Newswire) - Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. ("Shandong Luoxin Pharmaceutical" or the "Company") (stock code: 8058) has announced that the resolution for the proposed withdrawal of listing of the H shares of the Company ("H Shares") from The Stock Exchange of Hong Kong Limited (the "Stock Exchange") was passed by way of poll at the extraordinary general meeting and the H Share class meeting of the Company held on 29 May 2017. The voluntary conditional offer ("Offer") by Giant Star Global (HK) Limited and Ally Bridge Flagship LX (HK) Limited (together, the "Joint Offerors") for all the issued H Shares (other than those already owned, controlled or agreed to be acquired by the Joint Offerors and parties acting in concert with any of them who have undertaken not to accept the Offer) became unconditional in all respects on 29 May 2017.
The last day of dealing in the H Shares on the Stock Exchange will be 5 June 2017. Trading in the H Shares will be suspended from 6 June 2017 and will remain suspended until the withdrawal of listing of the H Shares from the Stock Exchange from 9:00 a.m. on 16 June 2017.
The Joint Offerors have no rights under the laws of the PRC and the Articles of Association of the Company to compulsorily acquire the H Shares that are not tendered for acceptance pursuant to the Offer. Accordingly, the H Shareholders are reminded that if they do not accept the Offer and the Offer subsequently becomes unconditional in all respects, and the H Shares are delisted from the Stock Exchange, this will result in the H Shareholders holding securities that are not listed on the Stock Exchange and the liquidity of the H Shares may be severely reduced.
Unless the Offer is extended, the latest time and date for acceptance of the Offer will be 4:00 p.m. on 26 June 2017 ("Closing Date") and the latest date for posting of remittances for the amounts due under the Offer in respect of valid acceptances received at or before the latest time for acceptances of the Offer on the Closing Date will be 5 July 2017.
Topic: Press release summary
Sectors: Daily Finance, Daily News, Healthcare & Pharm
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From the Asia Corporate News Network
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