City Coolxuan Company Limited (formerly known as Quantum Thinking Limited, Stock Code: 8050) and Hong Kong Coolxuan Group Company Limited jointly announced that the public float of City Coolxuan Company Limited stands at approximately 17.22% of the total issued share capital, below the requirement under Rule 11.23(7) of the GEM Listing Rules.

According to the announcement, an unconditional mandatory cash offer led to valid acceptances representing 137,114,000 shares. As a result, public shareholding dropped below the minimum threshold. The company indicated it aims to restore the public float after a black-out period tied to the publication of interim results for the six months ended 30 September 2025. The Offeror, which is majority-owned by a new Director-designate, will be restricted from dealing in shares during that period.

It was further stated that the Offeror plans to dispose of at least 105,471,271 shares after the black-out period to bring the public float back into compliance. The Stock Exchange has granted the company a waiver from strict compliance with Rule 11.23(7) until 15 January 2026, allowing sufficient time for share disposal arrangements. The announcement also indicates that further updates on restoring the public float will be provided as necessary.