CA Cultural Technology Group Limited (Stock Code: 01566) and Kyosei-Bank Co., Ltd. jointly announced a delay in the despatch of a circular related to multiple proposals, including a capital reorganisation, change in board lot size, and debt restructuring. Previous announcements outlined that the circular was initially subject to a 21-day dispatch requirement. However, additional time is required to finalize updates to the proposed restructuring details, the whitewash waiver application, and consent for subscriptions under Rule 7.27B of the Listing Rules. An extension has been sought and is expected to be granted for despatch on or before 31 December 2025.

The extraordinary general meeting (EGM) concerning these proposals is postponed. The revised schedule for the capital reorganisation and change in board lot size will be issued once confirmed. Trading in the Company’s shares has been suspended since 21 November 2024 and remains suspended pending further announcement. The Subscriptions involved in the restructuring are subject to meeting the minimum public float requirement under Rule 8.08(1) of the Listing Rules. Listing approval for the new shares also requires adherence to all relevant conditions, including the granting of a whitewash waiver and compliance with public float requirements.

The Company clarifies that completion of the proposed restructuring depends on various conditions, including exchange and regulatory approvals. Shareholders and potential investors are therefore advised to exercise caution in dealing in its shares. According to the announcement, directors of both the Company and Kyosei-Bank Co., Ltd. accept full responsibility for the accuracy of the information contained in the joint announcement. The transaction may or may not proceed, and further updates will be provided as they become available.