The privatization plan of PINE CARE GP will take effect, and it will be delisted after the market closes tomorrow.
The privatization plan of PINE CARE GP has taken effect, and it will be delisted tomorrow.
PINE CARE GP (01989.HK) announced that the proposal for privatization by Huamao Group through a scheme arrangement has been approved by the Grand Court at the Cayman Islands on February 16th. The reduction of the company's issued share capital through the cancellation and elimination of planned shares was also confirmed by the Grand Court on the same day at the same hearing.
Copies of the court orders approving the scheme and confirming the reduction of share capital were submitted to the Registrar of Companies in the Cayman Islands on February 27th. All conditions for the privatization plan have been met, and the plan has taken effect on the same day.
The company's delisting from the Main Board of the Hong Kong Stock Exchange will take effect tomorrow (the 29th) at 4:00 pm. (jl/w)
