RAFFLESINTERIOR (01376) and offeror Hanchen Holdings Limited jointly announced that the offeror completed the acquisition of 510 million shares from Ultimate Global Enterprises Limited on July 29, 2025. This represents 51.00% of the company's total issued share capital as of the joint announcement date, for a consideration of HK$33.6 million, equivalent to approximately HK$0.066 per share sold.

Under Rules 26.1 and 13.1 of the Takeovers Code, the offeror is required to make a mandatory unconditional cash offer to acquire all issued shares and outstanding convertible notes (except those already owned and/or agreed to be acquired by the offeror and/or parties acting in concert with it). The offers will be made by Allied Securities on behalf of the offeror in accordance with the Takeovers Code on the following basis: HK$0.066 per offer share, representing a discount of approximately 43.1% to the closing price of HK$0.116 per share on the Stock Exchange on the last trading day; the value of the convertible note offer is approximately HK$12.375 million.

Additionally, the company has applied to the Stock Exchange for the resumption of trading in its shares on the Stock Exchange at 9:00 a.m. on August 8, 2025.

It is understood that the offeror is controlled by Mr. Zheng Nenghuan and is directly and beneficially owned 70% and 30% by Mr. Zheng Nenghuan and his spouse Ms. Tang Judi respectively. Mr. Zheng Nenghuan is the sole director of the offeror.