BELLE Bid To Acquire Beautiful Treasure Close To Ending
BELLE International (01880.HK) and 01179.HK announced a joint announcement yesterday that the voluntary conditional cash offer made by BELLE international acquired all the shares in the international capital stock and cancelled all the issued share options in May 23rd. An effective acceptance letter covering the 258058000 share offer shares (about 98.38% of the issued share capital of the fair share) has been accepted and an offer option covering 16420000 shares of the offer shares, which is equivalent to all 100% outstanding stock options at the beginning of the offer option.
As BELLE international has acquired more than 90% of the stake, BELLE International said it intends to exercise the relevant rights to force the acquisition of its wholly owned subsidiary, BGL (Belle Group Limited). After completing the compulsory takeover, it will become a wholly owned subsidiary of BELLE and will withdraw its listing status in the stock exchange.
BELLE International announced in February this year that it intends to offer an offer offer to BGL by HK $6 per share, HK $3.125 per share option (HK $2.875), and HK $0.104 per share option (HK $5.896). BELLE International said that through the acquisition of beautiful treasure, the two shoes business can complement each other. The overseas experience of the company will enhance BELLE's overseas business operation, and BELLE's huge retail network in China, its existing operation scale and rich management experience will further improve the business of the company in China.
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