Tongtian Liquor (00389) received a conditional cash offer from shareholder Wang Heti to acquire 18.68% of the shares and resumed trading on August 24

Zhitong Finance App News, Tongtian Liquor (00389) announced that on August 6, 2026, the board of directors received a written notice from the offeror regarding part of the takeover offer. Offeror Wang Hyuk announced his intention to make a voluntary cash partial takeover offer with preconditions to acquire 563.22 million shares, accounting for approximately 18.68% of the company's issued share capital at the date of this announcement.

The offender and those acting in concert currently hold 338.398 million shares, or 11.22% of the shares. An independent board committee composed of all non-executive directors and all independent non-executive directors has been established to provide advice to eligible shareholders on whether part of the takeover offer is fair and reasonable for eligible shareholders, and to make recommendations on the acceptance of part of the takeover offer.

Notably, the board of directors did not make any recommendations on the fairness or reasonableness of some takeover offers or whether to accept partial takeover offers in this announcement. Eligible shareholders shall not take any action on a partial takeover offer until they have received the response documents to be published by the Company, the opinions of the Independent Board Committee, and the opinions of independent financial advisors.

The Company has applied to the Stock Exchange to resume trading of the Company's shares on the Stock Exchange from 9:00 a.m. on August 24, 2026 (Monday).