RIVERINE CHINA (01417) Control May Change Hands, Trading to Resume May 19

Stock News05-18

RIVERINE CHINA (01417) announced that the board has noted unusual recent price fluctuations of the company's shares on the Stock Exchange. Hegao Holdings Limited (the potential seller, ultimately owned 87%, 10%, and 3% by Mr. Xiao Xingtao, Mr. Fu Qichang, and Mr. Chen Yao, respectively) entered into a memorandum of understanding on May 11, 2026, with an independent third party (as the buyer) regarding the potential sale of approximately 300 million shares held by the potential seller, representing about 74.08% of the company's total issued share capital as of the date of this announcement. After making all reasonable inquiries in the relevant circumstances, the board confirms that, aside from the disclosure above, it is not aware of any reasons for these fluctuations, any information that must be disclosed to avoid a false market in the shares, or any inside information requiring disclosure under Part XIVA of the Securities and Futures Ordinance. Furthermore, the company has applied to the Stock Exchange for the resumption of trading of its shares, effective from 9:00 a.m. on May 19, 2026.

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