Asia Grocery Distribution Limited (Asia Grocery) and Hong Kong Lianfeng Property Co., Limited (the Offeror) released a joint monthly update on the pre-conditional voluntary cash partial offer for up to 755.30 million Asia Grocery shares, to be made through TFI Securities and Futures and Shenwan Hongyuan Capital (H.K.).
Key Developments 1. Status of Regulatory Pre-Condition • The Offeror has filed an application with the State-owned Assets Supervision and Administration Commission of the Hubei Provincial People’s Government (SASAC) to satisfy Pre-Condition (b). • SASAC’s review remains ongoing, and additional time is required for approval.
2. Proposed Extension of Long-Stop Date • The current Pre-Condition Long-Stop Date is 11 June 2026. • Both parties are considering extending this deadline to 31 December 2026 to accommodate the pending SASAC approval.
3. Composite Document Timetable • The despatch of the Composite Document had previously been allowed to occur no later than 18 June 2026 (seven days after the existing Long-Stop Date). • In view of the proposed Long-Stop Date extension, the Offeror and the Company plan to seek the Executive’s consent for a corresponding extension of the despatch deadline. Preparatory work on the document continues.
4. Next Steps • Further announcements will be issued regarding the SASAC approval progress, any confirmed extension of the Long-Stop Date, and the revised despatch schedule of the Composite Document.
Investor Caution The partial offer remains subject to the fulfilment of all pre-conditions and subsequent conditions. If these are not met or waived by the revised Long-Stop Date, the offer will lapse. Shareholders and potential investors are advised to exercise caution when dealing in Asia Grocery shares.