Hong Kong slope-works contractor Maxicity Holdings Limited announced that controlling shareholder Good Hill Investment has sold 300.00 million shares—equivalent to 75% of Maxicity’s issued share capital—to GreenAir Energy Global Limited for HK$196.35 million in cash (HK$0.6545 per share). The transaction completed on 22 June 2026, transferring control of Maxicity to GreenAir and its sole shareholder, Ms. Zhu Liming.

Pursuant to Hong Kong’s Takeovers Code, GreenAir must now extend a mandatory unconditional cash offer for the remaining 100.00 million shares not already owned, at the same HK$0.6545 per share. The offer values the outstanding stake at HK$65.45 million and represents: • a 65.6% discount to the last traded price of HK$1.90 on 18 June 2026; • a 67.8% discount to the 30-day average closing price of HK$2.03; and • a 172.7% premium to the 31 December 2025 audited net asset value per share of HK$0.24.

GreenAir will fund the acquisition and the ensuing offer entirely from Ms. Zhu’s internal resources, with Lego Corporate Finance confirming sufficient financial capability. Lego Securities will act as offer agent.

Post-completion, Maxicity’s board will be reconstituted: all directors except executive director Mr. Ho Ka Ki are expected to resign at the earliest time permitted, with GreenAir nominating replacements. The acquirer intends to maintain Maxicity’s Main Board listing and review strategic options, while keeping existing operations and workforce largely intact.

Good Hill has warranted that the group’s consolidated net asset value will not fall below HK$90.00 million as at 31 May 2026 and at completion; management accounts show an estimated HK$105.00 million NAV as of 31 May 2026, implying no shortfall payment is currently required.

Maxicity’s audited results for FY 2025 reported revenue of HK$238.56 million and net profit of HK$12.61 million, with net assets of HK$94.44 million.

Trading in Maxicity shares, halted on 22 June 2026, is scheduled to resume on 3 July 2026. A composite offer document, including the Independent Board Committee’s recommendation and advice from Merdeka Corporate Finance, is expected to be despatched to shareholders on or before 23 July 2026.