CITY COOLXUAN (08050): Public Float Stands at Approximately 17.22%

Stock News
01/15

Following the close of the offer, only 233.6 million shares (equivalent to 46.7182 million consolidated shares post the share consolidation effective December 8, 2025, representing approximately 17.22% of the company's total issued share capital) are held by the public (as defined in the GEM Listing Rules). Consequently, the public float of issued shares has fallen below 25%, and the company is no longer in compliance with the minimum public float requirement of 25% stipulated in Rule 11.23(7) of the GEM Listing Rules. The company has therefore applied to the Stock Exchange for a temporary exemption from strict compliance with the minimum public float requirement (the Exemption). As previously disclosed in the Exemption announcement, the Stock Exchange granted the Exemption to the company on October 27, 2025. The exemption period is effective from October 13, 2025, to January 15, 2026, inclusive. The company has been notified by the Offeror (the company's controlling shareholder, with an interest in 224 million consolidated shares, representing approximately 82.75% of the company's total issued share capital as of the date of this announcement) that additional time is required to identify buyers for the sale of the excess shares held by the Offeror, thereby restoring the company's public float. To the best of the company's knowledge, information, and belief, as of the date of this announcement, the company's public float remains at approximately 17.22%, which is still below the minimum public float requirement under the GEM Listing Rules.

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