China Modern Dairy Holdings Ltd. (CMD) and China Shengmu Organic Milk Limited (CSM) jointly announced on 18 June 2026 that the deadline for despatching the Offer Document relating to CMD’s mandatory conditional cash offer for all issued shares of CSM—excluding those already owned or agreed to be acquired by CMD and Start Great Holdings—has been further extended to 30 June 2026. The Takeovers Code Executive has indicated it is minded to grant consent for this new timetable.

The latest postponement follows two earlier extensions: • 20 November 2025—first extension to 7 days after the earlier of Share Purchase Agreement (SPA) completion or the 30 October 2026 long-stop date. • 29 May 2026—second extension to 19 June 2026 after SPA completion on 22 May 2026 triggered the initial 29 May deadline.

CMD and CSM attribute the additional delay to the time required to finalise information for the Offer Document, including a valuation report on certain CSM assets.

A detailed schedule for the offer will be provided within the Offer Document and a subsequent announcement upon its despatch. Both companies remind shareholders and potential investors to exercise caution when trading their respective shares and note the Takeovers Code dealing restrictions applicable to associates.