Migao Group Holdings Limited (Stock Code: 9879) announced a change in its controlling shareholding structure. According to the announcement, the chairperson, chief executive officer, and executive director, Mr. Liu Guocai, established the Liu Family Trust as part of his estate planning. Through its indirect wholly owned subsidiary, MGO Familia International Limited, the Liu Family Trust acquired 99.00% of Migao Holding Limited (“Migao BVI”), which holds 675.00 million shares of Migao Group Holdings Limited. This represents around 74.26% of the total issued share capital of the company at the date of the announcement.

Prior to this restructuring, Migao BVI was wholly owned by Migao International Holding Limited, which was fully owned by Mr. Liu. The new shareholding arrangement required MGO Familia International to make a mandatory general offer under Rule 26 of the Takeovers Code, but a waiver was granted by the Executive Director of the Corporate Finance Division of the Securities and Futures Commission.

Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.