CHINA CBS INTL (00989.HK): Mandatory Cash Offer Closes with Only 0.003% Valid Acceptances

NewTimeSpace News: On 8 October 2026, China Changbaishan International Holdings Limited (the "Company") and the offeror Guangze Group (Hong Kong) Limited jointly announced that the unconditional mandatory cash offer made by Delin Securities (Hong Kong) Limited on behalf of the offeror closed at 4:00 p.m. on Thursday, 8 October 2026, and the offeror did not revise or extend the offer.

The announcement disclosed that, by the closing time, the offeror had received seven valid acceptances in respect of a total of 139,713 offer shares, representing approximately 0.003% of the Company's issued share capital as of the date of the joint announcement; based on the offer price of HKD 0.15 per offer share, the total consideration for the offer was HKD 20,956.95. Remittances of the cash consideration payable for validly accepted offer shares (after deducting seller's ad valorem stamp duty) have been or will be despatched by ordinary post to the independent shareholders who accepted the offer as soon as practicable, and in any event within seven business days after the share registrar's receipt of completed acceptance forms and all documents required, with the last despatch date being 20 October 2026.

The Company stated that, on its shareholding structure, immediately after the close of the offer, taking into account the seven valid acceptances and pending due registration of the transfer of the offer shares by the share registrar, the concert party group had an interest in 3,060,375,080 shares, representing approximately 57.07% of the Company's total issued share capital as of the date of the joint announcement (completion having taken place on 11 September 2026). The offeror intends to maintain the listing status of the shares on the Stock Exchange after the close of the offer and will, as soon as practicable after the close, take appropriate steps to ensure sufficient public float.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.