The board of Evergrande Property Services Group Limited (HKEX: 06666) has been notified by the liquidators, acting as agents for the sellers without personal liability, and by the offeror, Everest Holdings I Limited, that on October 28, 2026, after trading hours, they entered into a share purchase agreement.
Under the agreement, the sellers have conditionally agreed to sell, and the offeror has conditionally agreed to acquire, the sale shares, comprising approximately 5.515 billion shares in total, representing approximately 51.016% of the total issued shares as at the date of the share purchase agreement, being the entire shareholding of each seller in the company, for a total cash consideration of approximately HK$4.026 billion.
As at the date of this announcement, the offeror and parties acting in concert with the offeror held interests in 8,500 shares. Upon completion, the offeror and parties acting in concert with the offeror will hold interests in a total of approximately 5.515 billion shares, representing approximately 51.016% of the total issued shares as at the date of this announcement.
Pursuant to Rule 26.1 of the Takeovers Code, upon completion, the offeror will be required to make an unconditional mandatory cash offer for all issued shares, other than those already owned or agreed to be acquired by the offeror and parties acting in concert with the offeror.
As at the date of this announcement, the company has approximately 10.811 billion issued shares, and the company has no outstanding share options, warrants, derivatives, or securities convertible into or exchangeable for shares, nor has it entered into any agreement for the issuance of such share options, derivatives, warrants, or securities convertible into or exchangeable for shares.
Upon completion, Goldman Sachs will make the offer on behalf of the offeror to acquire all offer shares in accordance with the terms set out in the composite document and under the Takeovers Code on the following basis: an offer price of HK$0.8359 per offer share, representing a discount of approximately 29.5% to the closing price of HK$1.185 per share as quoted on the Stock Exchange on the last trading day.
The offer price of HK$0.8359 per offer share is equal to the price per sale share under the share purchase agreement (China Evergrande). The offeror intends to maintain the company's listing status on the Stock Exchange.
The directors of the offeror and any new directors to be appointed to the board will jointly and severally undertake to the Stock Exchange that, if at the close of the offer the company fails to comply with Rule 13.32B of the Listing Rules, they will take appropriate steps to ensure the company complies with Rule 13.32B of the Listing Rules as soon as possible.
At the company's request, the shares have been suspended from trading on the Stock Exchange from 9:00 a.m. (Hong Kong time) on October 29, 2026, pending the publication of this announcement. The company has applied to the Stock Exchange for the resumption of trading in the shares from 9:00 a.m. (Hong Kong time) on October 30, 2026.
Comments