{"id":14040,"date":"2021-04-14T01:15:00","date_gmt":"2021-04-14T01:15:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2021\/04\/14\/zhejiang-new-century-hotel-shareholders-approve-privatization\/"},"modified":"2021-04-14T01:15:00","modified_gmt":"2021-04-14T01:15:00","slug":"zhejiang-new-century-hotel-shareholders-approve-privatization","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2021\/04\/14\/zhejiang-new-century-hotel-shareholders-approve-privatization\/","title":{"rendered":"Zhejiang New Century Hotel Shareholders Approve Privatization"},"content":{"rendered":"

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\n First Acceptance of the H Share Offer Closes on 19 April 2021 <\/p>\n

HONG KONG SAR –\u00a0Media
\nOutReach<\/a>\u00a0– 14 April 2021 –\u00a0Zhejiang New Century Hotel Management
\nCo., Ltd.<\/b> (“Zhejiang New Century Hotel” or the
\n“Company”, HKEx stock code: 1158) announced that the Company’s H Shareholders
\nhave approved the privatization and delisting proposal offered by Kunpeng Asia
\nLimited (“the Offeror”), at the H Share Class Meeting and Extraordinary General
\nMeeting held yesterday. The consideration to acquire all the H Shares of
\nZhejiang New Century Hotel proposed by Kunpeng Asia Limited is
\nHK$18.15 per share, representing a premium of approximately 24.7% over the H
\nShare closing price on the Last Trading Date (18 January 2021). <\/p>\n


\n <\/p>\n

\u00a0<\/p>\n


\n <\/p>\n

For
\nthe privatization to become unconditional, the Offeror must receive minimum
\nvalid acceptances of 90% of the number of H Shares held by the Independent H
\nShareholders. As of 13 April 2021, valid acceptances totaled approximately
\n84.40% of H Shares held by the Independent H Shareholders have been received. The
\nDomestic Share Offer is subject to the H Share Offer being declared
\nunconditional in all respects. The first closing date for acceptances of the
\nH Share Offer is 19 April 2021 (next Monday). If shareholders’ H Shares have
\nbeen lodged with licensed securities dealers, and they intend to accept the H
\nShare Offer, they should instruct their licensed securities dealers to accept
\nthe H Share Offer as soon as possible before the closing date.<\/b><\/p>\n


\n <\/p>\n

\u00a0<\/p>\n


\n <\/p>\n

Pursuant
\nto the Takeovers Code, settlement in cash in respect of acceptances of the H
\nShare Offer will be made within 7 business days of the later of the date on
\nwhich the H Share Offer has been declared unconditional and the date on which
\nthe H Shares are tendered for acceptance of the H Share Offer. For further
\ndetails on how to accept the Offer, please refer to Appendix I of the Composite
\nDocument dated 19 March 2021.<\/p>\n


\n <\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

First Acceptance of the H Share Offer Closes on 19 April 2021 HONG KONG SAR –\u00a0Media OutReach\u00a0– 14 April 2021 –\u00a0Zhejiang New Century Hotel Management Co., Ltd. (“Zhejiang New Century Hotel” or the “Company”, HKEx stock code: 1158) announced that the Company’s H Shareholders have approved the privatization and delisting proposal offered by Kunpeng Asia …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/14040"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=14040"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/14040\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=14040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=14040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=14040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}