COASTAL GL (01124) announced that on September 22, 2025, the company was informed by the seller, Coastal International Holdings Limited, that the offeror Tao Qian Limited (acting as the buyer) intends to establish a sale and purchase agreement by the end of October 2025. Under this agreement, the seller plans to sell shares (a total of 153,126,197 shares, representing approximately 36.93% of the company’s total issued share capital as of the announcement date) and the sale of loans to the offeror. The company has learned that as of the announcement date, the offeror is still conducting due diligence on the company, hence a formal sale and purchase agreement has not yet been concluded. The company has applied to the Stock Exchange to resume trading of its shares at 9:00 AM on October 20, 2025. According to Rule 26.1 of the Takeover Code, upon completion of the transaction, the offeror must make a mandatory conditional cash offer for all the issued securities of the company (excluding those already owned or agreed to be acquired by the offeror and persons acting in concert with it). It is reported that the seller is a limited company registered in the British Virgin Islands, with the shares held by (a) executive director Mr. Jiang Ming owning approximately 59.14%; (b) Tian Di Investment Limited (a limited company registered in Hong Kong and wholly owned by Mr. Jiang Ming) owning approximately 21.42%; (c) company secretary Mr. Zheng Rongbo owning approximately 5.38%; (d) Shi Fu Development Limited (a limited company registered in the British Virgin Islands and wholly owned by Ms. Wang Hongmei) owning approximately 5.38%; (e) Mr. Tao Linsheng owning approximately 5.38%; and (f) executive director Mr. Lin Zhenxin owning approximately 3.30%. The offeror is an investment holding company that is not currently engaged in business operations, fully owned by the S2800 Trust. The trustee is Shengfeng Global Trust Limited. As of the announcement date, the grantor of the trust property and the sole beneficiary is Lexi Limited, which is wholly owned by Mr. Lam Tin Kin.