Horizon Heights postpones composite offer document for mandatory cash offer to acquire IDT INT’L

Bulletin Express07-20

Horizon Heights Ltd. and IDT International Limited (IDT INT’L) have jointly announced a delay in sending out the composite document for Horizon Heights’ mandatory unconditional cash offer to acquire all issued shares of IDT INT’L not already owned by the offeror and its concert parties.

Originally scheduled for dispatch on or before 20 July 2026 under Rule 8.2 of Hong Kong’s Takeovers Code, the composite document will now be issued on or before 10 August 2026, subject to the Executive’s formal consent. The postponement reflects the need for extra time to finalise: 1. The Independent Financial Adviser’s letter to the Independent Board Committee; and 2. The statement on any material changes in the Group’s financial or trading position required under Rule 10.11 of the Takeovers Code.

The composite document will include full details of the cash offer, the expected timetable, the Independent Board Committee’s recommendation, the adviser’s opinion and the requisite form of acceptance. Further announcements will be released once the revised dispatch date is confirmed or if the timetable changes.

The joint announcement reiterates that the sole director of Horizon Heights, Ms Shen Jingwei, and the board of IDT INT’L accept full responsibility for the accuracy of the disclosed information relating to their respective entities.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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