Minmetals Land Limited (Stock Code: 230) (“Minmetals Land”) and June Glory International Limited (“June Glory”) jointly announced on October 23, 2025, a proposal for the privatization of Minmetals Land by way of a scheme of arrangement under Section 99 of the Companies Act of Bermuda. Under this plan, all Scheme Shares held by disinterested shareholders would be cancelled at a cash consideration of HK$1.00 per share (“Cancellation Price”), representing significant premiums over preceding trading prices and the company’s net asset value.

June Glory is a wholly owned subsidiary of China Minmetals H.K. (Holdings) Limited. Neither Minmetals Land nor June Glory disclosed any other equity financing. The maximum cash consideration for the transaction is approximately HK$1,275,812,531, with payment financed through internal resources. The Cancellation Price will not be increased, and June Glory has stated it does not reserve the right to do so.

Upon completion of the scheme, the listing of Minmetals Land’s shares would be withdrawn from the Stock Exchange, while its listed debt securities (Debt Stock Code: 40768) would remain listed. If the scheme is not approved or otherwise lapses, the listing of Minmetals Land’s shares would be maintained.

An Independent Board Committee has been established, consisting of certain non-executive directors, to advise disinterested shareholders on the proposal. An independent financial adviser will also be appointed. Trading in Minmetals Land’s shares and its listed debt securities was suspended on September 30, 2025 and resumed on October 24, 2025. The scheme’s implementation remains subject to approvals from relevant shareholders’ meetings, the Court in Bermuda, and other regulatory conditions as described in the announcement.