HOME CONTROL received a discount of 39.61% from Meta-Wisdom Tech and will strengthen the mandatory unconditional general offer, resuming trading on June 24

Zhitong
2025.06.24 15:03
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HOME CONTROL and Meta-Wisdom Tech Limited jointly announced that trading will resume on June 24, 2025. The offeror agrees to purchase 375 million shares at a price of approximately HKD 0.6133 per share, accounting for 74.02% of the total issued shares. The total transaction price is HKD 230 million, representing a discount of 39.61%. The offeror is required to make a mandatory unconditional general offer for all issued shares in accordance with Rule 26.1 of the Takeovers Code, with the resumption of trading scheduled for 9:00 AM on June 24, 2025

According to the Zhitong Finance APP, HOME CONTROL (01747) and the offeror Meta-Wisdom Tech Limited jointly announced that on June 24, 2025, the offeror (as the buyer) and the seller (as the seller) entered into a sale and purchase agreement. The offeror has conditionally agreed to purchase, and the seller has conditionally agreed to sell, a total of 375 million shares, accounting for approximately 74.02% of the total issued shares as of the date of this joint announcement.

The total consideration for the sale shares is HKD 230 million, equivalent to approximately HKD 0.6133 per sale share, but potential adjustments to the consideration may be made as follows: if the seller receives the 2024 final dividend paid by the company after the completion of the transaction, the seller must pay the offeror an amount equal to the received 2024 final dividend. The transaction price was reached through fair negotiation between the offeror and the seller, taking into account (among other factors) the historical market price and trading volume of the shares as well as the company's listing status.

The completion was realized on June 24, 2025.

Immediately prior to the completion, the offeror and persons acting in concert with the offeror did not hold, own, control, or direct any shares or other relevant securities of the company (as defined in the Notes to Rule 22 of the Takeovers Code). Following the completion and as of the date of this joint announcement, the offeror owns 375 million shares (accounting for approximately 74.02% of the total issued shares). Therefore, the offeror is required to make a mandatory unconditional general offer for all issued shares (excluding those already owned or agreed to be acquired by the offeror) in accordance with Rule 26.1 of the Takeovers Code.

The offer price for each offer share is HKD 0.616 in cash. The offer price represents a discount of 39.61% to the closing price of HKD 1.020 per share reported on the last trading day (June 19, 2025) on the Stock Exchange.

The company has applied to the Stock Exchange to resume trading of its shares at 9:00 AM on June 24, 2025

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