CNT Group disclosed that Prime Surplus and SHK Hong Kong Industries, acting in concert, have launched a mandatory conditional cash offer for all CNT shares not already held by them at HK$0.10 per share.

The offer was triggered after Prime Surplus acquired 88.72 million CNT shares (4.66 % of issued share capital) on 10 April 2026, lifting the concert party’s stake from 29.72 % to 34.38 %. Completion of the offer is conditional on acceptances that will raise the concert group’s holding to above 50 % of CNT’s voting rights.

Key terms and timetable • Offer price: HK$0.10 per share, matching the consideration paid for the recent block purchase. • First Closing Date: 22 June 2026 (deadline 4:00 p.m.); results to be announced the same day. • If unconditional on the First Closing Date, the offer will remain open until at least 6 July 2026. • Settlement: cheques to be mailed within seven business days of a valid acceptance. • Maximum cash outlay (assuming full acceptance): HK$124.92 million.

Pricing metrics • 43.82 % discount to HK$0.178 closing price on 10 April 2026 (last trading day before the offer). • 9.91 % discount to HK$0.111 closing price on 26 May 2026. • 84.08 % discount to audited NAV of HK$0.628 per share as at 31 December 2025. • 85.80 % discount to adjusted unaudited NAV of HK$0.704 per share.

Funding and intentions SHK will fund its participation from internal resources, while Prime Surplus will rely on shareholder Philip Tsui’s personal funds. The offerors intend to maintain CNT Group’s listing status and have no immediate plan to alter its property investment, hotel, or paint-and-coatings operations, nor to reduce headcount or dispose of core assets.

Recommendation and opinion CNT’s Independent Board Committee—excluding non-executive director Philip Tsui—has appointed Alpha Financial Group as independent adviser. Both the committee and adviser deem the HK$0.10 offer “unattractive” and “not fair and reasonable”, advising minority shareholders not to accept unless they cannot dispose of shares in the market at a higher net price.

Capital structure CNT has 1.90 billion shares in issue; none are subject to options or warrants. As at 26 May 2026, the public float stood at 47.08 %. The offerors have undertaken to restore the minimum 25 % public float should acceptances reduce it below Listing Rule requirements.

Share trading CNT shares traded between HK$0.109 and HK$0.209 during the six-month period to 26 May 2026, closing at HK$0.111 on the Latest Practicable Date.