SUN KONG HLDGS (08631) obtained Wang Xinlong's discount of about 21.88% to fully purchase the tender offer. Trading will resume on September 17th.

SUN KONG HLDGS (08631) and the offeror Hong Kong Yufeng Chang Co., Ltd. jointly announced that on September 13, 2024, the offeror completed the acquisition of 23.115 million shares of sale shares from Fully Fort Group Limited, at a total consideration of approximately HK$14.4469 million, equivalent to HK$0.625 per share of sale shares. The sale shares represent approximately 57.79% of the total issued share capital of the company as of the announcement date. Following the completion, the offeror and its concerted parties will have ownership of 23.115 million shares (equivalent to approximately 57.79% of the total issued share capital of the company). Therefore, in accordance with Rule 26.1 of the Takeovers Code, the offeror must make a mandatory unconditional cash offer for all the issued shares (excluding those already owned or agreed to be acquired by the offeror or its concerted parties). The cash offer price per share is HK$0.625, representing a discount of approximately 21.88% to the closing price of HK$0.800 per share on the last trading day on The Stock Exchange of Hong Kong Limited. In addition, the company has applied to The Stock Exchange of Hong Kong Limited for the resumption of trading of its shares from 9:00 am on September 17, 2024 (Tuesday). It is understood that the offeror is indirectly wholly-owned by Wang Xinlong, who is the executive director and supervisor of Xi'an Caibang Fund Management Co., Ltd. (a fund management company in which the offeror holds a minority stake), and the general manager and executive director of Xi'an Lexiang Xingtuo Film and Television Culture Co., Ltd. (a company mainly engaged in video and short video production and operation services).