Asia Standard International Group Limited (ASI, Stock Code: 129) entered into a Sale and Purchase Agreement on 23 October 2025 for a reorganisation involving Asia Standard Hotel Group Limited (ASH). The agreement was made between The Sai Group Limited (as purchaser) and two vendors, Persian Limited and Mr. Poon Jing, to acquire 47,601,312 ASH shares at a total consideration of HK$5,236,144. These shares represent approximately 1.031% of the total issued ASH shares.

According to the announcement, ASH was already 98.969% owned by the purchaser after a scheme arrangement became effective in October 2024, and the remaining 1.031% of ASH was held by the two vendors. By acquiring the remaining shares, ASI aims to further streamline its corporate structure and reduce administrative expenses. Completion took place on 23 October 2025.

Under Hong Kong Listing Rules, the reorganisation is classified as a connected transaction due to the relationships of the vendors with ASI and its controlling shareholder. All parties confirm that each applicable percentage ratio exceeded 0.1% but was less than 5%, rendering the deal subject to the reporting and announcement requirements without requiring shareholder approval.

ASH, an exempted company incorporated in Bermuda, is engaged in hotel operations in Hong Kong and property development in Canada. Its audited financials for the year ended 31 March 2025 showed a net loss after tax credit of HK$726.9 million and net assets of HK$602.5 million. Immediately before completion, ASH was owned approximately 98.969% by ASI. Following the reorganisation, ASH has become an indirect wholly owned subsidiary of ASI.