REDCO HEALTHY Announces Reduction in Parent Company's Stake Following Share Disposal

Deep News07-06

REDCO HEALTHY (Stock Code: 02370) has issued an announcement regarding the proposed enforcement of security and acquisition of 48 million ordinary shares of the company (the Target Shares), representing 24% of the issued share capital, by a lender, Zhongwan International Limited (the Lender), which is a lender to REDCO Properties Holdings Limited (REDCO Properties). The disposal was for a consideration of HK$45.12 million.

Following the close of market trading on July 3, 2026, the company received a notice from the Receivers informing that the disposal was completed on July 2, 2026. The Target Shares have been transferred for a total valuation of HK$45.12 million. This amount is exclusive of all stamp duties, agency fees, transaction costs, legal fees, receiver fees and expenses, and any other third-party costs and expenses incurred in connection with the disposal and the enforcement of security over the Target Shares.

Consequently, effective from July 2, 2026, following the completion of the disposal by the Lender and the Receivers, the equity interest of REDCO Properties in the company has been reduced from 75% to 51%. The remaining 51% of the company's issued shares are now held and collected by the Receivers.

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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