Brief: Redco Properties Group Says Informed By Chairman & President Of Intention To Acquire Shares

Redco Properties

31/03/2021 15:07

March 31 (Reuters) - Redco Properties Group Ltd  1622.HK :
    * INFORMED BY CHAIRMAN & PRESIDENT OF THEIR INTENTION TO
ACQUIRE
SHARES OF CO FROM OPEN MARKET WITHIN 6-MONTHS
    * EXPECTED THAT AGGREGATE AMOUNT OF CONSIDERATION FOR
SHAREHOLDING
INCREASE WOULD NOT EXCEED HK$400 MILLION
    * SHARES PROPOSED TO BE ACQUIRED WOULD BE HELD FOR MEDIUM-
TO
LONG-TERM INVESTMENT PURPOSES
    * CONTROLLING SHAREHOLDERS SAY NO PRESENT INTENTION TO SELL
SHARES
DURING 6-MONTHS AFTER SHAREHOLDING INCREASE PERIOD
    * EXPECT PROPOSED SHAREHOLDING INCREASE WOULD NOT GIVE RISE
TO
OBLIGATION TO MAKE A MANDATORY OFFER

Source text for Eikon:  urn:newsml:reuters.com:*:nHKSbtDRQF
Further company coverage:  1622.HK 

 (Reuters.Briefs@thomsonreuters.com)