MOST KWAI CHUNG (01716) and the offeror, Dynamic Legend Limited, have jointly announced that the offeror completed the acquisition of 175.5 million sale shares from Blackpaper Limited on March 12, 2026. These shares represent 65% of the company's total issued share capital as of the date of this joint announcement. The total cash consideration for the transaction is HK$122.2 million, equating to approximately HK$0.6963 per sale share.

Under Rule 26.1 of the Takeovers Code, the offeror is required to make a mandatory general offer for all issued shares not already owned or agreed to be acquired by the offeror, Dr. Ma Liyang, or any of their concert parties. The cash offer price is HK$0.6963 per share. This represents a discount of approximately 42.45% compared to the closing price of HK$1.21 per share on the Stock Exchange on the last trading day.

If the offer is fully accepted, the total consideration payable would be HK$65.80035 million. The offeror intends to maintain the listing status of the shares on the Stock Exchange following the completion of the offer.

Furthermore, the company has applied for the resumption of trading of its shares on the Stock Exchange, effective from 9:00 a.m. on March 13, 2026.

It is noted that Dr. Ma Liyang is the sole director of the offeror and the sole legal and beneficial owner of all the issued shares in the offeror.