KELFRED (01134) change of control or ownership, resumes trading on November 21st.

Kelfred (01134) announces that the board has noted an increase in the price and trading volume of the company's shares on the Stock Exchange of Hong Kong on November 3, 2025. The company's controlling shareholder, Summit Holdings Limited (Summit), has informed the company that they are in discussions with a potential buyer regarding the possible sale of 270,952,000 shares, representing approximately 54.19% of the company's issued share capital. The company has also been informed by Summit that the potential buyer or their concert parties are in discussions with other minority shareholders of the company regarding possible share transactions, one of whom is independent non-executive director Mr. Leung Ka Teng. The company has applied to the Stock Exchange of Hong Kong for the resumption of trading of its shares on November 21, 2025, at 9:00 am. As of the date of this announcement, the details of the potential sale (including price) are still being discussed, and no formal agreement has been reached. Therefore, the potential sale may not proceed. Summit holds 270,952,000 shares, representing approximately 54.19% of the company's issued share capital. Upon the execution of a formal agreement and the fulfillment or waiver (as the case may be) of the completion conditions as specified in the agreement, it is expected that the potential buyer and their concert parties will hold more than 50% of the company's issued share capital upon completion of the potential sale. In accordance with the Takeovers Code, if the potential sale proceeds, the potential buyer and their concert parties will be required to make a mandatory unconditional general offer for all issued shares (excluding those already held or agreed to be acquired by the potential buyer and their concert parties) as per Rule 26.1 of the Takeovers Code. The offer period under the Takeovers Code commences from the date of this announcement (i.e. November 20, 2025).