ASIA STANDARD: The Sai acquired 47.6013 million shares of ASIA STANDARD Hotels
Asia Standard announced that its wholly-owned subsidiary The Sai Group Limited has signed an agreement with Mr. Pan Zheng and Persian Limited to acquire 47,601,300 shares of Asia Standard Hotel, accounting for approximately 1.031% of its issued shares, for a total consideration of HKD 5.2361 million. After the acquisition, The Sai will hold approximately 98.969% of the shares of Asia Standard Hotel, which will become an indirect wholly-owned subsidiary of Asia Standard. The board believes that the terms of the transaction are fair and reasonable and in the interests of the group and its shareholders
According to the Zhitong Finance APP, Asia Standard (00129) announced that on October 23, 2025, The Sai Group Limited, a direct wholly-owned subsidiary of Asia Standard, entered into a sale and purchase agreement with Mr. Pan Zheng and Persian Limited (each as a seller), whereby the sellers agreed to sell, and the buyer agreed to acquire shares equivalent to 47.6013 million shares of Asia Standard Hotels, accounting for approximately 1.031% of the total issued shares of Asia Standard Hotels, for a total consideration of HKD 5.2361 million, in order to further streamline the company's structure and reduce administrative costs.
Upon the plan taking effect and the buyer subsequently converting its held convertible bonds, the buyer will hold approximately 98.969% of the issued shares of Asia Standard Hotels. The buyer is a wholly-owned subsidiary of Asia Standard, which is approximately 50.11% owned by Huihan. The remaining minority shareholder rights, accounting for approximately 1.031% of the total issued shares of Asia Standard Hotels, are held by the sellers. To further streamline the corporate structure, enhance the operational flexibility of the group's business and asset management, and reduce administrative costs, it is proposed that the buyer acquire the remaining approximately 1.031% of the issued shares of Asia Standard Hotels held by the sellers. Upon completion of the acquisition, Asia Standard Hotels will become an indirect wholly-owned subsidiary of Asia Standard.
The directors (including independent non-executive directors) believe that the terms of the sale and purchase agreement are fair and reasonable; and the restructuring is conducted on normal commercial terms or better terms, in line with the group's daily business, and in the overall interests of Asia Standard and its shareholders
