Ant Acquires Yao Cai - All Completion Conditions Met, Transaction Expected to Close by End of Month

SighingCashier · 2026-03-16T15:02:04+00:00

Reliant Securities Finance (01428) announces that Ant Group has completed the reporting procedures and met certain conditions for share purchase agreement completion. The Securities and Futures Commission has approved the extension of the validity period for major shareholders until the 30th of next month. The transaction is expected to be completed on the 30th of this month, and further announcement will be made separately. The stock will resume trading tomorrow.

SighingCashier

2026-03-16 15:02:04

Abstract generation in progress

Tao Yuan Securities Finance (01428) announced that the offeror, Ant Group, has completed the reporting procedures to relevant Chinese authorities for the proposed transaction under the share purchase agreement, in accordance with the Regulations on the Administration of Overseas Investments by Enterprises for high-value non-sensitive investment projects. Therefore, condition © has been satisfied.

Regarding condition (b), on September 23 last year, the offeror obtained approval from the Securities and Futures Commission (SFC) under Section 132(1) of the Securities and Futures Ordinance for the offerors and other relevant persons to become the major shareholders of the regulated group company. The approval for the major shareholders will remain valid, but completion must occur within six months of that approval date (i.e., by September 23 this month) or within a longer period as approved in writing by the SFC. The offeror has applied to the SFC, which has approved an extension of the validity of the major shareholder approval until the 30th of next month.

Therefore, aside from the completion condition that can only be satisfied upon completion of the share purchase agreement, all other conditions have been met, and the remaining condition that can only be satisfied upon completion is expected to be fulfilled or waived at the time of completion under the share purchase agreement.

According to the terms of the share purchase agreement, completion will occur on the 10th business day after the offeror notifies the seller that all conditions have been satisfied or waived, or on the later date mutually agreed upon by the offeror and the seller. The offeror and the company currently expect completion to be on the 30th of this month. The offeror and the company will make further announcements regarding completion and the offer in accordance with the Listing Rules and the Takeovers Code in due course.

The stock will resume trading tomorrow.

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