MOST KWAI CHUNG (01716) changes ownership, with a purchase offer of approximately 42.45% discount from Xiongjun Legendary Limited. Trading will resume on March 13th.

MOST KWAI CHUNG (01716) and the offeror Xiojn Legend Limited jointly announced that the offeror completed the purchase of 175.5 million shares of Blackpaper Limited on March 12, 2026, which is equivalent to 65% of the total issued share capital of the company as of the date of this joint announcement, for a total cash consideration of 122.2 million Hong Kong dollars (approximately 0.6963 Hong Kong dollars per share of sale shares). In accordance with Rule 26.1 of the Takeovers Code, the offeror must make an offer for all issued shares that the offeror, Dr. M Lyng, and any of their concerted parties do not already own or agree to sell, at a cash price of 0.6963 Hong Kong dollars per offer share, representing a discount of approximately 42.45% to the closing price per share of 1.21 Hong Kong dollars reported on the last trading day on the Stock Exchange. If the offer is fully accepted, the total consideration for the offer will be 65.8 million Hong Kong dollars. The offeror intends to maintain the listing status of the shares on the Stock Exchange after the offer ends. In addition, the company has applied for the resumption of trading of its shares on the Stock Exchange starting from 9:00 am on March 13, 2026. It is understood that Dr. M Lyng is the sole director of the offeror and the sole legal and beneficial owner of all issued shares of the offeror.