HANKING GOLD (03788) intends to acquire the remaining 9.56% equity of HANKING GOLD Limited for 8.146 billion Hong Kong dollars in order to hold 100% ownership of the gold business.

HANKING GOLD (03788) announced that on March 26, 2026, the company entered into a share purchase agreement with the sellers (including Hengheng, Richlink Opportunity, Parkside Partners, View Capital, Kongwell Management, Fuente Consulting, Elite Consulting, Elite XL Family Trust, Golden Resource, Qiu Family Fund, Tuochuan Capital, Qianlong Wealth, and Mingde Capital). According to the agreement, the company conditionally agrees to acquire, and the sellers each conditionally agree to sell, target shares (totaling 9.56% of the total issued shares of the target company, HANKING GOLD Limited) to allow the company to hold 100% equity in a high-value gold business, subject to the terms and conditions of the share purchase agreement. As of the date of this announcement, the company holds approximately 90.44% of the total issued shares of the target company. Upon completion of the acquisition, the target company will become a wholly-owned subsidiary of the company, thus giving the company 100% ownership of high-value gold assets in Australia, including 5.54 million ounces of gold resources and 2.62 million ounces of gold reserves in accordance with the JORC (2012) code, marking a step towards the company's goal of becoming a medium-sized gold producer. Under the share purchase agreement, the total consideration for the acquisition is approximately 8.146 billion Hong Kong dollars, which will be settled by the company issuing and distributing 204 million shares at a price of HK$4.0 per share to the sellers. The consideration shares will represent approximately 9.09% of the total issued shares of the company as of the date of this announcement, and approximately 8.33% of the total issued shares after the issuance of the consideration shares. The company currently holds 90.44% of the total issued shares of the target company, which through its wholly-owned subsidiary, holds 100% equity in the Mt Bundy and Cygnet gold mine projects in Australia (Australian gold assets). The Australian gold assets have 5.54 million ounces of gold resources and 2.62 million ounces of gold reserves according to the JORC (2012) code, and have shown high profitability based on a final feasibility study and pre-feasibility study with a gold price of AU$3,750 per ounce, while the spot gold price as of March 26, 2026, was AU$6,399 per ounce. After the acquisition is completed, the company's ownership of these high-value gold assets will increase from 90.44% to 100%, further advancing the company's strategic goal of becoming a medium-sized gold producer.