SUNART RETAIL (06808): The delivery of the purchase agreement has been completed. The offeror will make a mandatory unconditional offer.

SUNART RETAIL (06808) and the offeror Paragon Shine Limited jointly announced that the completion of the sale and purchase agreement was completed on February 27, 2025. The offeror and Lavender Haze Limited (the buyer's designated entity) acquired a total of approximately 7.508 billion shares from the seller, representing approximately 78.70% of the company's total issued share capital on the date of this joint announcement. The consideration was paid or to be paid by the offeror as follows: approximately HK$6.907 billion was paid in cash on the completion date of the sale and purchase agreement (subject to applicable stamp duty paid by the seller); the balance of approximately HK$3.4535 billion, together with a maximum interest of HK$0.20 per share, is to be paid in cash on a deferred basis on the applicable second payment date of the sale and purchase agreement. Therefore, following the completion of the sale and purchase agreement, the offeror, the buyer's designated entity, and any other persons acting in concert with them collectively hold approximately 7.508 billion shares, representing approximately 78.70% of the company's total issued share capital on the date of this joint announcement. As the completion of the sale and purchase agreement has been finalized, the offeror must make the offer in accordance with the terms set forth in the comprehensive document to be published under the takeover code.