Hong Kong – 24 April 2026 – Aureole Halo Limited has completed the purchase of a 75% controlling stake in RIMBACO Group Global Limited from RBC Venture Ltd., paying HK$157.50 million in cash (HK$0.167 per share) for 945.00 million shares. The transaction, agreed on 10 April and completed today, makes Aureole Halo—ultimately owned 70% by Mr. Yao Xiongjie, 20% by Ms. Yao Juanying and 10% by Mr. Chen Dong—the new controlling shareholder of RIMBACO.
Mandatory unconditional cash offer With its post-completion holding at the 75% statutory threshold, Aureole Halo is required under Hong Kong’s Takeovers Code to launch a mandatory unconditional cash offer for the remaining 315.00 million shares (25% of issued capital) it does not own. CMB International Capital and CEB International Capital will act on Aureole Halo’s behalf, offering HK$0.167 per share—the same price paid in the acquisition. The offer values the shares in public hands at up to HK$52.61 million and places an implied equity value of HK$210.42 million on RIMBACO.
Pricing metrics The HK$0.167 offer price represents: • a 74.3% discount to the 10 April 2026 closing price of HK$0.650; • a 74.8% discount to the five-day average close of HK$0.664; • a 72.5% discount to the 10-day average close of HK$0.608; and • an 8.74% discount to the audited net asset value of HK$0.183 per share as at 31 October 2025.
Aureole Halo has stated it will not increase the offer price.
Funding and financial resources The HK$157.50 million acquisition cost and any further payments under the offer will be met entirely from the Offeror’s internal resources, which are funded by its ultimate beneficial owners. Joint financial advisers CMB International and CEB International have confirmed that sufficient funds are in place to satisfy full acceptance of the offer.
Post-offer intentions and listing status Aureole Halo intends to keep RIMBACO’s Main Board listing and maintain existing operations in Malaysia’s building-construction sector while conducting a strategic review. No immediate plans have been announced for major asset disposals, management layoffs or business diversification, although future investments or restructurings may be considered.
Governance steps RIMBACO will establish an Independent Board Committee comprising all three independent non-executive directors—Mr. Ng Kok Seng, Mr. Wong Chi Wai and Ms. Yeo Chew Yen Mary—to advise shareholders on the fairness of the offer. Octal Capital has been appointed as the company’s financial adviser, and an independent financial adviser will be named in the forthcoming composite offer document, scheduled for dispatch within 21 days.
Operational snapshot For FY2025 (year ended 31 October 2025) RIMBACO reported revenue of RM259.93 million, a profit before tax of RM6.85 million, and a net loss of RM1.45 million. Consolidated equity stood at RM124.64 million.
Trading resumption RIMBACO shares, suspended since 13 April 2026 pending this announcement, will resume trading on 27 April 2026 at 9:00 a.m. Shareholders are advised to await the composite document before making any decision on the offer and to exercise caution when dealing in the shares.
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