Brief: Suncity Group Gets Cash Offer From Major Success Group To Acquire Co At HK$0.069/Share

LET group

14/09/2022 16:16

Sept 14 (Reuters) - Suncity Group Holdings Ltd  1383.HK :
    * CHAMPION TRADE GROUP & MAJOR SUCCESS GROUP INVOLVED IN
ACQUISITION OF PERPETUAL SECURITIES, CBS, PN LOAN AT HK$344.4
MILLION
    * FOLLOWING COMPLETION, MAJOR SUCCESS GROUP INTERESTED IN
74.86%
OF CO
    * UNCONDITIONAL MANDATORY CASH OFFERS AT OFFER PRICE
HK$0.069 IN
CASH
    * APPLICATION HAS BEEN MADE FOR RESUMPTION OF TRADING FROM
15 SEPT
    * UNCONDITIONAL MANDATORY CASH OFFERS BY MAJOR SUCCESS GROUP
LIMITED TO ACQUIRE CO
    * OFFEROR INTENDS TO FINANCE  CONSIDERATION BY ITS INTERNAL
CASH
RESOURCES & OFFER FACILITY OF HK$104 MILLION
    * OFFEROR HAS NO INTENTION TO PRIVATISE CO AND INTENDS TO
MAINTAIN
LISTING
    * CBS AND  PN LOAN WERE DEFAULTED ON 29 AUGUST BY CO
    * OFFEROR WILL PROCURE CO TO CONSIDER DISPOSING OF ITS
VALUABLE
ASSETS RIGOROUSLY OR REFINANCING

Source text for Eikon:  ID:nHKS8LrdwG 
Further company coverage:  1383.HK 

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