BJ PROPERTIES (00925) acquires about a 250.00% premium from Brighten Holdings for privatization, to resume trading on June 18th.

BJ Properties (00925) and the offeror Hao Ming Holdings Limited jointly announced that on June 17, 2025, the offeror requested the board to present the proposal to the intended shareholders, which relates to privatizing the company in a scheme arrangement under Section 99 of the Companies Act. Shares held by the controlling shareholder on the record date (including any sale shares acquired by the offeror under the share purchase agreement) will not form part of the scheme shares, nor will they be cancelled. The proposal will be implemented in a scheme manner. Under the scheme, scheme shares will be cancelled in exchange for a cash consideration of HK$0.140 per scheme share. The cancellation price represents a premium of approximately 250.00% over the closing price per share of HK$0.040 on the last trading day on the Stock Exchange. Due to challenging market conditions and pressure on the company's performance, the proposal will help the company to execute its long-term strategy. The company has lost the advantage of being listed and has limited equity financing ability. The proposal will help streamline the company's governance, corporate and ownership structure, improve management efficiency, and save costs. Given the low trading liquidity, the proposal provides an exit opportunity for scheme shareholders. The proposal offers scheme shareholders the opportunity to realize a premium on their investments in the company. It is understood that Beijing Control Group is the ultimate controlling shareholder of the offeror. It is a state-owned enterprise established in China, wholly owned by the State-owned Assets Supervision and Administration Commission of the Beijing Municipal People's Government. The company has applied to the Stock Exchange to resume trading of its shares on June 18, 2025, starting at 9:00 am.