China Modern Dairy Holdings Ltd. (CMD, Stock Code: 1117) and China Shengmu Organic Milk Limited (CSM, Stock Code: 1432) have jointly announced that the latest date for despatch of the offer document relating to the possible mandatory conditional cash offer by CLSA Limited, on behalf of CMD, has been extended. The offer document concerns the acquisition of all issued shares of CSM not already owned or agreed to be acquired by CMD and Start Great Holdings Limited.
According to the announcement, the despatch period is extended to no later than seven days after the earlier of (i) completion of certain share purchase agreements (SPA Completion) or (ii) the long stop date of 30 October 2026. Additional time is required to satisfy conditions precedent under the share purchase agreements and to finalize documentation.
The offer remains conditional upon SPA Completion, which may or may not occur. Shareholders and potential investors are advised to exercise caution when dealing in the shares of CMD and CSM and to seek professional advice if they are in any doubt about their position.
