PUBLIC FIN HOLD (00626.HK): Scheme Document Despatched; Court Meeting Set for 23 November

NewTimeSpace News: On 30 October 2026, Public Bank Berhad and Public Financial Holdings Limited (stock code: 626) published a joint announcement on the privatisation proposal, with the scheme document and notices of the court meeting and extraordinary general meeting published the same day and to be despatched to shareholders. The offeror proposes to privatise the Company by way of a scheme of arrangement under section 99 of the Bermuda Companies Act 1981 and to withdraw the listing of the shares.

The court meeting will be held at 10:00 am on Monday, 23 November 2026 at the Harbour View Room, Kowloon Shangri-La, 64 Mody Road, Tsim Sha Tsui East, Kowloon, Hong Kong, with the EGM at 10:30 am the same day (or immediately after the court meeting concludes or is adjourned) at the same venue. The independent financial adviser, Somerley Capital, considers the proposal and the scheme fair and reasonable to disinterested scheme shareholders and recommends voting in favour of the resolutions.

As all non-executive and independent non-executive directors are deemed interested in the proposal, no independent board committee will be established. To determine attendance and voting entitlements, the register of members will be closed from 18 to 23 November 2026 (inclusive), with transfers to be lodged by 4:30 pm on 17 November; proxy forms for the court meeting and EGM are due by 10:00 am and 10:30 am respectively on 21 November.

According to the indicative timetable, the withdrawal of listing is expected to take effect at 4:00 pm on 9 December 2026, with cheques for the cancellation consideration despatched by 16 December 2026. The announcement does not state the cancellation consideration per share, which is set out in the scheme document.