TIANAN MEDICARE (00383) plans to offer a premium of approximately 15.79% to repurchase up to a maximum of 70 million shares. Resumption of trading on March 24th.
Tian An Android Health (00383) announced that Vanking Securities will represent the company in proposing a tender offer, under which, at a price of HK$1.1 per share, the company will repurchase and cancel up to a maximum number of shares (i.e. 70 million shares, representing approximately 6.48% of the issued shares as of the date of this announcement).
TIANAN MEDICARE (00383) announced that Wanjik Securities will represent the company in making a tender offer to repurchase and cancel up to a maximum of the highest number of shares (i.e. 70 million shares, representing approximately 6.48% of the issued shares on the date of this announcement) at a price of HK$1.1 per share. The tender offer price represents a premium of approximately 15.79% over the closing price of HK$0.95 per share on the last trading day on the Stock Exchange of Hong Kong.
The tender offer will be made in full compliance with the share repurchase rules. The consideration for the tender offer (if fully accepted, totalling HK$77 million) will be paid in cash and will be funded by the company's internal resources. Bellerkin Financial (the company's financial advisor) has confirmed that the company has sufficient financial resources to meet the funding requirements for the tender offer as described in this announcement.
In addition, the company has applied to the Stock Exchange for the resumption of trading of the company's shares on the Stock Exchange starting from 9:00 am on Tuesday, March 24, 2026.
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