SMC Electric agrees to sell 70% stake to Mega Nova for HK$ 154 million

• Mega Nova agreed to buy 1,400,000,000 SMC Electric shares, a 70% stake, from Shell Electric for HK$ 154 million, or HK$ 0.11 each.
• The buyer is expected to launch a mandatory cash offer at HK$ 0.11 per share for the remaining shares it does not already own.
• SMC Electric plans a conditional special dividend of about HK$ 91.5 million, or HK$ 0.04575 per share, before completion.
• On completion, the seller will retain 100,000,000 shares, a 5% stake, subject to an 18-month lock-up.
• The offer implies up to HK$ 55 million of cash consideration if all non-seller minorities tender 500,000,000 shares.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SMC Electric Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260731-12265020), on July 31, 2026, and is solely responsible for the information contained therein.