Zhongzhi Global completes the sale of Inception Point Systems Ltd. and will pay a special interim dividend of HKD 4.11 per share

IntelliCentrics Holding announced on April 25, 2024, that it has completed the sale of all issued shares of Inception Point Systems Ltd. At the time of delivery, there was no agreement between IntelliCentrics Holding and the buyer to supplement the purchase price. Therefore, the final purchase price was $2.465 billion (the minimum purchase price).

After the transaction, IntelliCentrics Holding no longer holds (directly or indirectly) any equity in the target company or any other target group company.

The board has decided to declare an amount equivalent to approximately $220 million as a special interim dividend, which is the final purchase price minus the general reserve amount. The special interim dividend payable to eligible shareholders (excluding Central Securities and TricorBVIHoldco) is HKD 4.11 per share.

As all outstanding conditions have been met, the delisting of shares on the Stock Exchange of Hong Kong will take effect on Wednesday, May 8, 2024, at 9:00 am after the completion of the special interim dividend payment.

Furthermore, the company is expected to appoint a voluntary liquidator under the Companies Act, who will be responsible for realizing any remaining value of the company's remaining assets when the liquidation proposal is initiated. Eligible shareholders (excluding Central Securities and TricorBVIHoldco) will have the right to receive any cash proceeds from the sale of such assets during the voluntary liquidation process, after the full settlement of any creditors' claims, expenses and costs related to the proposal, and liquidation expenses. However, it is anticipated that there will be no significant cash proceeds available for distribution after the liquidation of the company