MAOYE INT'L (00848) receives privatization offer at a premium of approximately 110.1%, trading resumes on September 30.

MAOYE INT'L (00848) and the offeror, W.F Group Limited, jointly announced that on September 16, 2026, the offeror requested the board of directors to propose the proposal to the scheme shareholders, proposing to privatize the company through the scheme, and if approved and implemented, it would result in the company being privatized by the offeror under Section 86 of the Companies Law, and the listing status of the shares on the Stock Exchange being withdrawn. The cancellation price of HK$0.208 per scheme share represents a premium of approximately 110.10% over the closing price of HK$0.099 per share on September 16, 2026. The offeror is a company incorporated in the British Virgin Islands as a BVI business company, principally engaged in investment holding. As at the date of the announcement, Mr. Huang Weizheng is the sole director and sole shareholder of the offeror, and is a non-executive director and the son of Mr. Huang Maoru. As at the date of the announcement, the offeror has not engaged in any business activities other than in connection with the proposal and the scheme. As at the date of the announcement, it is the intention of the offeror that the group will continue to operate its existing businesses and maintain the company's controlling interest in Maoye Commercial, and Maoye Commercial will continue to operate its department store business in China. The offeror has no intention to make any material changes to the existing businesses of the group after the scheme becomes effective, or to make any material changes to the continued employment of the group's employees as a result of the implementation of the proposal, except for any changes that the group may make from time to time in the ordinary course of business. The company confirms that the implementation of the proposal will not have any financial or operational impact on Maoye Commercial. The group will continue to work with its customers and business partners in existing and future cooperation to address business challenges. In addition, the company has applied to the Stock Exchange for the resumption of trading in the shares with effect from 9:00 a.m. on September 30, 2026.