AJISEN (CHINA): The change of trustee for the controlling shareholder has been completed
AJISEN (CHINA) announced that the trustee change of ANMI Trust was completed on June 18, 2025. According to Rule 26.1 of the Takeover Code, the trustee change may trigger the provisions for a mandatory general offer, but an exemption was obtained on April 10, 2025. The company currently has 1.092 billion issued shares, of which 480 million shares are held by Favor Choice, accounting for 43.99%. ANMI Trust is fully beneficially owned by Ms. Pan and her family members
According to the announcement from Ajisen (China) (00538), the board of directors has been informed by Ms. Pan that the trustee change regarding ANMI Trust (with Ms. Pan and her family members as the sole beneficiaries) was completed on June 18, 2025.
According to Rule 26.1 of the Takeover Code, the trustee change may trigger the requirement for a mandatory general offer for the company's shares. On April 10, 2025, the executives granted a waiver under Note 6 of Rule 26.1 of the Takeover Code, exempting the new trustee from the obligation to make a general offer for the shares due to the trustee change.
As of the date of this announcement, the company has a total of 1.092 billion issued shares, of which 480 million shares are held by Favor Choice, accounting for approximately 43.99% of the company's issued share capital. Favor Choice is an investment holding vehicle wholly owned by Anmi Holding, and prior to the completion of the trustee change, it was wholly owned by the previous trustee who served as the trustee of ANMI Trust. ANMI Trust is a fully discretionary family trust established by Ms. Pan as the grantor, protector, and appointor, with Ms. Pan and her family members as its sole beneficiaries
