Joy City Property Limited (the “Company”) has announced that its proposed share buy-back by way of a scheme of arrangement under section 99 of the Companies Act (the “Scheme”) was sanctioned without modification by the Court on 21 November 2025 (Bermuda time). The Scheme remains subject to the fulfillment or waiver of the remaining conditions, including delivery of the Court order to the Registrar of Companies in Bermuda, as well as certain regulatory and contractual approvals or waivers.

According to the announcement, the Scheme is expected to become effective on 25 November 2025 (Bermuda time), provided all conditions are met or waived. Upon effectiveness, the listing of the Company’s shares is scheduled to be withdrawn from the Hong Kong Stock Exchange at 4:00 p.m. on 27 November 2025. The Company’s expected timetable shows that the Scheme Record Date and the Effective Date are both anticipated to fall on 25 November 2025, with cheques for the cancellation consideration to be despatched on or before 4 December 2025.

The announcement advises that shareholders and potential investors should be aware that the Proposal may or may not proceed and that caution is advised when dealing in the Company’s securities.