Asia Standard International Group (HK:0129) has released an update.
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Asia Standard International Group Limited has announced a major group reorganization that includes a share exchange offer with a cash payment for the cancellation of all scheme shares through a scheme of arrangement. If approved, this will result in Asia Standard Hotel Group Limited becoming a non-listed, indirectly non-wholly-owned subsidiary of ASI, and their shares will be withdrawn from the Main Board of the Stock Exchange. Shareholders affected by this scheme will receive new ASI shares and a cash payment for every 20 cancelled scheme shares.
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