Hans Energy Co. Ltd. (HK:0554) has released an update.
Hans Energy Co. Ltd. has announced the signing of an agreement to acquire a significant 54.44% stake in a target company, with the transaction valued at HK$2,722,045,000, which will result in a change of majority ownership. The deal is classified as an extreme transaction due to its size according to the Listing Rules, and will not be considered a reverse takeover, but it will require shareholder approval and adherence to specific reporting standards. Additionally, the agreement includes a new shareholders’ agreement and provisions for call and put options on 30% of the issued shares.
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