VESYNC (02148) has received an offer from the acquirer VICTORY III CO., LTD to privatize the company through an agreement. Trading will resume on December 30th.

VESYNC (02148) and offeror VICTORY III CO., LTD jointly announced that on December 23, 2024, the offeror requested the board of directors to privatize the company through an agreement under Section 86 of the Companies Act and present a proposal to the agreement shareholders. Upon completion of the proposal, the company will become a wholly-owned subsidiary of the offeror and its shares will be delisted from the Stock Exchange. The proposal will be implemented through the agreement. The agreement will stipulate that, if the agreement becomes effective, the agreement shares will be cancelled in exchange for: (a) Cash option: HK$5.60 in cash for each agreement share held; or (b) Share option: One share in the parent company for each agreement share held. The cash offer price of HK$5.60 per agreement share under the cash option represents a premium of approximately 33.33% over the closing price of HK$4.20 per share on the Stock Exchange on December 10, 2024 (the last trading day). After the agreement becomes effective, the company will apply to the Stock Exchange for the delisting of its shares in accordance with Rule 6.15(2) of the Listing Rules shortly after the agreement becomes effective. At the request of the company, trading in the shares will be suspended on the Stock Exchange starting from 9:00am on December 11, 2024, pending the publication of this announcement. The company has applied for trading of the shares to resume on the Stock Exchange at 9:00am on December 30, 2024.