The offeror, Yomi.sun Holding Limited, and RIVERINE CHINA (01417) have jointly announced a series of transactions resulting in a mandatory general cash offer.

On June 15, 2026, the offeror entered into Sale and Purchase Agreement 1 with the selling shareholders to acquire 223 million shares for a total consideration of HK$115.6 million, representing approximately 55.03% of the company's total issued share capital as of the date of this joint announcement.

Concurrently, Lucky Yang Limited entered into Sale and Purchase Agreement 2 with the selling shareholders to acquire 77.28 million shares for a total consideration of HK$40.0711 million, representing approximately 19.08% of the issued share capital.

Immediately prior to the completion, neither the offeror, its ultimate beneficial owner, nor any of their concert parties (including Lucky Yang) held any shares in the company.

Following completion, as of the announcement date, the offeror and its concert parties collectively hold approximately 300 million shares (comprising 223 million held by the offeror and 77.28 million held by Lucky Yang), representing about 74.12% of the total issued share capital.

Under Rule 26.1 of the Takeovers Code, this acquisition triggers a mandatory unconditional cash offer for all issued shares not already owned or agreed to be acquired by the offeror and its concert parties.

The offer price is set at HK$0.519 per share in cash. This represents a discount of approximately 72.25% compared to the closing price of HK$1.870 per share quoted on the Stock Exchange on June 12, 2026.

The offeror's sole director and ultimate beneficial owner is Mr. Sun Taoyong. Mr. Sun is also the founder of WEIMOB INC (02013), a company incorporated in the Cayman Islands with a listing on the Hong Kong Stock Exchange.

Mr. Sun currently serves as the Chairman of the Board, an Executive Director, and the Chief Executive Officer of WEIMOB INC.

The rationale behind the offeror's acquisition is Mr. Sun's positive outlook on RIVERINE CHINA and its business prospects. The company provides property management services for high-end non-residential properties, commercial building leasing, catering services, and integrated urban sanitation services. Mr. Sun views the transaction as an opportunity to diversify his investment portfolio for long-term value and returns.

The company has applied to the Stock Exchange for the resumption of share trading, effective from 9:00 a.m. on June 16, 2026.