S&T Holdings (03928) indirectly controlling shareholder has proposed transferring its 20% stake in Alpine Treasure to Scouler Global.

S&T HLDGS (03928) announced that on September 25, 2024, one of the controlling shareholders and executive directors, Mr. Zhang, informed the company that as part of his personal asset planning, he proposed to transfer 20% of his shares in Alpine Treasure to Skura Global (a limited company registered in the British Virgin Islands and fully owned by Mr. Zhang) for a nominal consideration of 1 US dollar. As of the date of this announcement, Alpine Treasure directly holds 3.6 billion shares, representing 75.0% of the total issued share capital of the company. Alpine Treasure is held directly by Mr. Zhang and Mr. Ho with 20% and 80% equity interests respectively. Following the proposed transfer, Alpine Treasure will be indirectly held by Mr. Zhang through his holding company Skura Global, with a 20% equity interest, and directly held by Mr. Ho with an 80% equity interest. After the proposed transfer, Alpine Treasure will continue to hold 3.6 billion shares, representing 75.0% of the total issued share capital of the company. The proposed transfer is not expected to have any significant impact on the company's management and operations.