KANGDA FOOD received a cash offer from GaoSishi to acquire approximately 54.69% of the company's shares at a premium of about 16.23%. The company will resume trading on October 24

According to the news from Zhitong Finance APP, KANGDA FOOD (00834) and the offeror Hong Kong SHENG YUAN HLDG Co., Ltd. jointly announced that on October 18, 2025, the seller (as the seller) and the offeror (as the buyer) entered into a share purchase agreement, under which the seller conditionally agreed to sell, and the offeror conditionally agreed to acquire the sale shares (approximately 248 million shares, equivalent to about 54.69% of the total issued shares as of the date of the share purchase agreement and all the shares held by the seller in the company), for a total cash consideration of HKD 65.6426 million (equivalent to HKD 0.265 per sale share). The total consideration was determined through fair negotiation between the seller and the offeror, taking into account (including) the Group's business and past financial performance and financial condition; and the liquidity and stock price performance of the company's shares traded on the Stock Exchange. As of the date of this joint announcement, the offeror and the persons acting in concert with the offeror do not hold any interests in any shares. Immediately after the completion of the first batch of sale shares, the offeror will hold a total of 241 million shares, equivalent to about 53.15% of the total issued shares. Immediately after all sale shares are completed, the offeror will hold 248 million shares, equivalent to about 54.69% of the total issued shares. According to Rule 26.1 of the Takeovers Code, upon completion of the first batch of sale shares, the offeror must make an unconditional mandatory cash offer for all issued shares (excluding those owned by the offeror and persons acting in concert with the offeror and/or those agreed to be acquired). In addition, since the company's main listing location is not the Singapore Stock Exchange, and the company is not a public company incorporated in Singapore, the Singapore Takeover and Merger Code will not apply to this offer. The cash offer per share is HKD 0.265, which represents a premium of approximately 16.23% over the closing price of HKD 0.228 per share reported on the last trading day on the Stock Exchange. It is reported that the main business of the offeror is investment holding. As of the date of this joint announcement, the offer is legally, beneficially, and wholly owned by Mr. Gao Sisi (Mr. Gao), who is also the sole director of the offeror. Mr. Gao believes that this acquisition presents a highly attractive investment return opportunity for the company's long-term growth. With Mr. Gao's 40 years of experience in the food industry and a mature processing and frozen agricultural products supply chain, this acquisition is expected to bring significant benefits to the company, including increased capital injection, expanded sales channels, upgraded product technology, introduction of diversified talents, and integration of domestic and international market resources, thereby effectively supporting the company in achieving its sustainable development strategic goals. Mr. Gao is the uncle of Executive Director Mr. Gao Yanxu. As of the date of this announcement, Mr. Gao is a director of two subsidiaries of the company and serves as the general manager of one of the company's subsidiaries. The company has applied to the Stock Exchange and the Singapore Stock Exchange for the resumption of trading of its shares on the Stock Exchange and the Singapore Stock Exchange from 9:00 AM (Hong Kong and Singapore time) on October 24, 2025 (Friday)