Fosun Tourism Group Appoints Independent Financial Adviser for Share, Options Incentives Repurchase

MT Newswires Live12-17

Fosun Tourism Group (HKG:1992) appointed Altus Capital as its independent financial advisor to advise its disinterested shareholders regarding the company's share buy-back by way of a scheme.

The advisor is also expected to provide professional advice to share incentive holders of the company, a Tuesday Hong Kong bourse filing said.

The resort operator company had, on Dec. 9, proposed a share buy-back by way of a scheme of arrangement. The company proposed to buy back all its shares other than the ones held by its controlling shareholder at HK$7.80 apiece and cancel them.

The integrated tourism company also said that it would cancel all the unallocated shares held by its trustee as well. The company plans to withdraw its listing from the exchange afterward.

The company had also proposed to buy back any share incentives it had offered previously including any pre-IPO share options, 2019 share options, 2019 share units, 2024 share options, and 2024 share units.

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