Evergrande Properties (06666): EverestHoldings I Limited plans to acquire 51.016% shares for HK$4,026 billion

Zhitong Finance App News, Evergrande Property (06666) issued an announcement. The board of directors has been notified by the liquidator (acting as the seller's agent, not subject to personal legal liability) and the offeror (Everest Holdings I Limited) that on October 28, 2026 (after the trading period), they entered into a share purchase agreement. According to this, the seller has conditionally agreed to sell shares (that is, a total of about 5,515 billion shares, accounting for about 51.016% of the total number of shares issued on the date of the share purchase agreement. The total cash cost of each seller's holdings in the company) was approximately HK$4,026 billion.

As of the date of this announcement, the offender and the person acting in concert with the offeror had an interest in 8,500 shares. After completion, the offeror and those acting in concert with the offeror will have interests in a total of approximately 5,515 billion shares (approximately 51.016% of the total number of shares issued at the date of this announcement). According to Rule 26.1 of the Takeovers Code, upon completion, the offeror will be required to make an unconditional mandatory cash offer for all issued shares (other than shares already owned or agreed to be purchased by the offeror and the person acting in concert with the offeror).

As of the date of this announcement, the Company had approximately 10.811 billion issued shares, and the Company did not have any unexercised share options, warrants, derivatives or securities convertible or exchangeable into shares, nor signed any agreement to issue such share options, derivatives, warrants or securities convertible or exchangeable into shares.

Upon completion, Goldman Sachs will make an offer on behalf of the offeror to acquire all of the offered shares in accordance with the terms set out in the comprehensive document and in accordance with the Takeover Code according to the following criteria. The offer price of HK$0.8359 per share will be discounted by approximately 29.5% from the closing price of HK$1.185 per share reported on the Stock Exchange on the last trading day. The offer price of HK$0.8359 per share is equal to the price of each share sold under the share purchase agreement (China Evergrande).

The offeror intends to maintain the Company's listing position on the Stock Exchange. The offender's directors and any new directors to be appointed to the board of directors will jointly and individually promise to the Exchange that if the Company fails to comply with section 13.32B of the Listing Rules at the end of the offer, they will take appropriate steps to ensure that the Company complies with Section 13.32B of the Listing Rules as soon as possible.

At the request of the Company, trading of shares was suspended on the Stock Exchange with effect from 9:00 a.m. on October 29, 2026 (Hong Kong time), pending publication of this announcement. The Company has applied to the Stock Exchange to resume trading on the Stock Exchange with effect from 9:00 a.m. (Hong Kong time) on October 30, 2026.