IDT INT'L (00167): Approximately 72.1% of Company Shares Subject to Receiver Appointment, Validity Under Verification

Stock News2025-10-06

IDT INT'L (00167) announced that on October 2, 2025, the company received notification regarding the appointment of a receiver, stating that Mr. Lam Kwun Leung from Zhongzheng Tianheng Accounting Co., Ltd. (the Receiver) was appointed on October 1, 2025, by Lead Winner Investment Limited (LWIL) as mortgagee to act as receiver over 312 million ordinary shares of the company pursuant to a share charge agreement dated May 13, 2025, entered into by Tiger Energy Technology Limited (Tiger Energy) as chargor with LWIL as beneficiary.

As of the date of this announcement, the company's total issued shares amount to 433 million shares, of which 312 million issued shares (representing approximately 72.10% of the company's total issued shares as of the announcement date) are held by Tiger Energy. Tiger Energy is directly owned 50% and 50% by Mr. Tiger Charles Chen (a director of the company) and Mr. Wang Dongyuan respectively.

The board of directors is currently verifying the validity of the alleged receiver appointment and is assessing the potential impact of the receiver appointment on the group while seeking legal advice.

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