EVERG SERVICES (06666): EverestHoldings I Limited intends to acquire 51.016% of shares for HK$4.026 billion

EVERG SERVICES (06666) announced that the Board has been notified by the Liquidators (acting as agents for the Sellers and without personal liability) and the Offeror (Everest Holdings I Limited) that on 28 October 2026 (after trading hours), they entered into a share purchase agreement pursuant to which the Sellers have conditionally agreed to sell, and the Offeror has conditionally agreed to acquire, the Sale Shares (being an aggregate of approximately 5.515 billion Shares, representing approximately 51.016% of the total number of issued Shares as at the date of the share purchase agreement and constituting the entire shareholdings of the respective Sellers in the Company), for a total cash consideration of approximately HK$4.026 billion. As at the date of this announcement, the Offeror and parties acting in concert with the Offeror are interested in 8,500 Shares. Upon completion, the Offeror and parties acting in concert with the Offeror will be interested in an aggregate of approximately 5.515 billion Shares (representing approximately 51.016% of the total number of issued Shares as at the date of this announcement). Pursuant to Rule 26.1 of the Takeovers Code, upon completion, the Offeror will be required to make an unconditional mandatory cash offer for all issued Shares (other than those already owned or agreed to be acquired by the Offeror and parties acting in concert with the Offeror). As at the date of this announcement, the Company has approximately 10.811 billion issued Shares, and the Company has no outstanding share options, warrants, derivatives or securities convertible or exchangeable into Shares, nor has it entered into any agreement for the issue of such share options, derivatives, warrants or securities convertible or exchangeable into Shares. Upon completion, Goldman Sachs will, on behalf of the Offeror, make the Offer to acquire all the Offer Shares in accordance with the terms set out in the composite document and pursuant to the Takeovers Code on the following basis: the Offer Price of HK$0.8359 per Offer Share represents a discount of approximately 29.5% to the closing price of HK$1.185 per Share as quoted on the Stock Exchange on the last trading day. The Offer Price of HK$0.8359 per Offer Share is equal to the price per Sale Share under the share purchase agreement (EVERGRANDE). The Offeror intends to maintain the listing status of the Company on the Stock Exchange. The directors of the Offeror and any new directors to be appointed to the Board will jointly and severally undertake to the Stock Exchange that, if at the close of the Offer the Company fails to comply with Rule 13.32B of the Listing Rules, they will take appropriate steps to ensure that the Company complies with Rule 13.32B of the Listing Rules as soon as possible. At the request of the Company, trading in the Shares on the Stock Exchange has been suspended from 9:00 a.m. (Hong Kong time) on 29 October 2026 pending the publication of this announcement. The Company has applied to the Stock Exchange for the resumption of trading in the Shares on the Stock Exchange from 9:00 a.m. (Hong Kong time) on 30 October 2026.