COFCO PACKAGING(00906): Huarui will exercise its right under the company regulations to privatize the company.

COFCO PACKAGING (00906) and the offeror Huarui Fengquan Development Limited jointly announced that Huarui has declared that the Huarui Offer has closed at 4:00 p.m. on January 22, 2025 (i.e. the final closing date of the Huarui Offer). At the final closing date of the Huarui Offer at 4:00 p.m., Huarui received valid acceptances for 826 million Huarui Offer shares, representing approximately 98.14% of the Huarui Offer shares as at the date of this joint announcement and approximately 74.16% of the company's total issued share capital. All Huarui Offer shares submitted for acceptance and accepted in reliance on the Huarui Offer as at the final closing time were submitted by non-associated shareholders, representing approximately 98.14% of the non-associated shares as at the date of this joint announcement and approximately 74.16% of the company's total issued share capital. As Huarui has acquired not less than 90% of the Huarui Offer shares (as specified in Article 693 of the company's articles) and not less than 90% of the non-associated shares within the mandatory takeover period, Huarui will exercise its right under the company's articles to privatize the company, and will compulsorily acquire the remaining Huarui Offer shares in accordance with Rule 2.11 of the Takeover Code. The remaining Huarui Offer shares will be acquired through compulsory acquisition on the same terms as the Huarui Offer (i.e. at the same offer price of HK$7.21 per Huarui Offer share). Upon completion of the compulsory acquisition process, the company will be beneficially and ultimately owned by Huarui and the parties acting in concert with Huarui, and will apply for the withdrawal of the shares from listing status on the Stock Exchange.