China Changbaishan International Holdings Limited (China CBS Intl) and Ground Group (Hong Kong) Co., Limited jointly announced a revised timetable for two key documents linked to their ongoing restructuring and takeover process.

The circular that will detail the Restructuring Framework Agreement—covering the subscription of new shares, the proposed scheme of arrangement, issuance of scheme shares under a specific mandate, and a special deal—was originally scheduled for despatch on or before 5 August 2026. Completion of certain information has taken longer than expected, and the company now targets a new despatch deadline on or before 19 August 2026.

Separately, the composite document associated with the unconditional mandatory cash offer for all issued shares of China CBS Intl (other than those already owned or agreed to be acquired by the offeror and its concert parties) was also due by 5 August 2026 under Rule 8.2 of the Hong Kong Takeovers Code. Because the cash offer is conditional on completion of the restructuring—most notably obtaining listing approval for the scheme and subscription shares and the passing of resolutions at a special general meeting—the parties have applied for, and received a favourable indication regarding, an extension. The composite document is now expected to be issued within seven days after completion of the restructuring or by 9 November 2026, whichever is earlier.

The Executive has signalled it is minded to grant the requested waiver from strict compliance with Rule 8.2, allowing the revised despatch window.

All transactions under the Restructuring Framework Agreement remain subject to multiple conditions precedent; there is no assurance that completion will occur. Shareholders and potential investors are advised to exercise caution when dealing in China CBS Intl’s shares.