LANGHAM-SS(01270): pay hotel management fees and license fees.

LANGHAM-SS (01270) announced that the total amount of management fees payable to the hotel manager for the year ending December 31, 2024 is approximately HK$62.3 million, of which approximately HK$29.563 million has already been paid for the first half of 2024. Due to restrictions imposed by the share subscription limits, the board of directors announced that the management fees payable to the hotel manager for the six-month period ending December 31, 2024 will be partially paid in cash of approximately HK$5.986 million, and partially in the form of issuing 56.9154 million new share subscription units at HK$0.470 per unit, subject to special authorization and deferred mechanism. The cash payment of the management fees will be made on February 28, 2025. The share subscription units for the management fees for the second half of 2024 will be settled in batches to comply with the public shareholding requirements in the listing rules. To comply with the public shareholding requirements in the listing rules, only 10.5945 million share subscription units will be issued to LHIL Assets on the payment due date. Based on publicly available information and as known by the board of directors, further issuance of share subscription units to LHIL Assets after the initial issuance will breach the public shareholding requirements in the listing rules. Therefore, under the supplementary agreement, a deferred mechanism will be triggered, and the issuance of the remaining 46.3209 million share subscription units (equivalent to approximately HK$21.771 million) will be considered completed on the payment due date. The deferred share subscription units must be issued within three years from the payment due date on any business day, in a single tranche or in batches, but the issuance date must meet the public shareholding requirements.