China Modern Dairy Holdings Ltd. (CMD, Stock Code: 1117) and China Shengmu Organic Milk Limited (CSM, Stock Code: 1432) jointly disclosed an extension for the despatch of the offer document related to a possible mandatory conditional cash offer. CLSA Limited, on behalf of CMD, intends to acquire all issued CSM shares not already owned or agreed to be acquired by CMD and Start Great Holdings Limited, subject to satisfaction or waiver of specific conditions under the share purchase agreements.

According to Rule 8.2 of the Takeovers Code, the offer document would ordinarily be issued within 21 days after the 30 October 2025 announcement. However, additional time is needed to complete the share purchase agreements and finalize information for inclusion. With consent from the Executive, the new deadline now extends to no later than seven days after the earlier of the date of completion under the relevant agreements or 30 October 2026.

The boards of CMD and CSM emphasize that the offer is contingent on conditions tied to the share purchase agreements. Shareholders and potential investors are advised to exercise caution when dealing in shares of both companies, as there is no certainty that the conditions will be fulfilled or that the mandatory offer will ultimately proceed. Further updates regarding the progress and timetable will be disclosed as required under applicable regulations.