Pacific Century Premium Developments Limited (the “Company”) has entered into a share sale agreement on 13 February 2026, through its wholly owned subsidiary Media Central Investments Limited (the “Seller”), to dispose of the entire issued share capital of Triple8 KK (the “Target Company”) and associated shareholder loans. The Target Company owns and operates Midtown Niseko, an eco hotel in Hokkaido, Japan. Upon completion, the Company will cease to hold any interest in the Target Company, and the Target Company’s financial results will no longer be consolidated into the group’s financial statements.
The disposal consideration is 80.00 million US dollars, covering both the sale of the Target Company’s entire issued share capital and the assignment of shareholder loans. Based on preliminary estimates, the Company expects to record a gain of around 261.00 million Hong Kong dollars, referencing a valuation of the property by an independent professional valuer. The net proceeds are intended to bolster the Company’s financial position, including reducing indebtedness and providing resources for potential residential projects in Japan, Thailand, and Hong Kong.
As at 31 January 2026, the Target Company owed around 35.19 million US dollars in shareholder loans (inclusive of accrued interest). The transaction is classified as a very substantial disposal under Chapter 14 of the Listing Rules, as one of the relevant percentage ratios exceeds 75%. Shareholder approval will be sought at a special general meeting to be convened, and a circular with further details, including financial and valuation information, is expected to be dispatched on or before 5 May 2026.
The disposal is subject to conditions precedent and may or may not be completed. Shareholders and potential investors are urged to exercise caution when dealing in the securities of the Company. If the conditions are met or waived, the planned transaction closing will occur on the earlier of the 15th business day following the fulfillment of these conditions or 31 May 2026.