Brief: Suchuang Gas Corp Updates On Proposal For Take-Private By China Resources Gas (Hong Kong) Investment

China Resources Gas

25/08/2021 13:35

Aug 25 (Reuters) - Suchuang Gas Corp Ltd  1430.HK :
    * PROPOSAL FOR TAKE-PRIVATE OF SUCHUANG GAS CORP BY CHINA
RESOURCES GAS (HONG KONG) INVESTMENT
    * UPON SCHEME BECOMING EFFECTIVE, CO WILL APPLY TO STOCK
EXCHANGE
FOR WITHDRAWAL OF LISTING OF SHARES ON STOCK EXCHANGE
    * CASH CONSIDERATION OF HK$2.50 PER SCHEME SHARE PROPOSED
    * UNDER PROPOSAL SCHEME SHARES WILL BE CANCELLED FOR 1 NEW
SHARE
IN HOLDCO FOR EVERY SCHEME SHARE AS SHARE ALTERNATIVE
    * ON ASSUMPTION,  AMOUNT OF CASH REQUIRED FOR PROPOSAL WOULD
BE
ABOUT HK$2.39 BILLION, WITH CERTAIN CONDITIONS AS CASH
ALTERNATIVE
    * OFFEROR GOT IRREVOCABLE UNDERTAKING FROM CONTROLLING
SHAREHOLDERS & OTHERS TO EXERCISE ALL VOTING RIGHTS HELD BY THEM
    * MADE APPLICATION FOR RESUMPTION OF TRADING IN SHARES FROM
26 AUG

Source text for Eikon:  ID:nHKS68mqhH 
Further company coverage:  1430.HK 

 ((Reuters.Briefs@thomsonreuters.com;))