VCREDIT (02003) received a discount of approximately 9.09% from the chairman to launch a full purchase offer. Trading will resume on December 23rd.

VCREDIT (02003) and the offeror WEALTHY SURPLUS LIMITED jointly announced that the offeror has completed the acquisition of 20.5 million shares, representing approximately 4.19% of the total issued share capital of the company. The Board also received notification from Mr. Liu Shihong that on December 10, 2024, the company Magic Mount, in which he holds a 50% stake and his mother, Ms. Guo Lingying, holds a 50% stake, entered into a sale and purchase agreement C with seller A. Under the agreement, seller A agreed to sell, and Magic Mount agreed to purchase 7 million shares at a price of HK$12.6 million (i.e. HK$1.80 per share), representing approximately 1.43% of the company's total issued share capital. The sale and purchase agreement C was completed on December 11, 2024, and subsequently Mr. Liu's controlled group (comprising Mr. Liu Shihong, Magic Mount, and other entities controlled by Mr. Liu Shihong) collectively owned 46,942,173 shares, increasing their proportion of the company's total issued share capital from approximately 8.16% to approximately 9.59% as of the date of this joint announcement. Following the completion of sale and purchase agreements A and B, the offeror's concerted group (excluding related deemed concerted parties) increased their total shareholding in the company from approximately 39.85% to 44.04%. Pursuant to Rule 26.1 of the Takeovers Code, the offeror is obligated to make a mandatory cash offer for all issued shares (excluding those already owned or agreed to be acquired by the offeror's concerted group) at a cash price of HK$1.80 per share, representing a discount of approximately 9.09% compared to the closing price of HK$1.98 per share on the Stock Exchange of Hong Kong as of December 10, 2024 (the last trading day). In addition, the company has applied to the Stock Exchange of Hong Kong for the resumption of share trading from 9:00 am on December 23, 2024. It is understood that the offeror is wholly owned by Mr. Ma Tingxiong and is primarily engaged in investment holding. Mr. Ma Tingxiong is also the controlling shareholder of the company, the chairman and executive director of the company, and a member of the offeror's concerted group.