Understanding the Market | SOUNDWILL HOLD fell over 15% as the company's privatization plan failed and will not distribute special dividends
SOUNDWILL HOLD fell over 15%, as of the time of writing, down 15.56% to HKD 5.48, with a trading volume of HKD 2.1309 million. In terms of news, SOUNDWILL HOLD announced that the offeror's proposal to privatize the company through a scheme of arrangement was not approved at the court meeting, with opposing votes accounting for 39.52%. Therefore, the resolution will not take effect, and the special dividend will not be distributed. The offeror Earning Ease had previously proposed to privatize SOUNDWILL HOLD through a scheme of arrangement at a total cancellation price of HKD 8.5 per share, including cash of HKD 7.5; and to pay a special dividend of HKD 1 in cash
According to Zhitong Finance APP, SOUNDWILL HOLD (00878) fell over 15%, down 15.56% to HKD 5.48 as of the time of writing, with a transaction volume of HKD 2.1309 million.
In terms of news, SOUNDWILL HOLD announced that the offeror's proposal to privatize the company through a scheme of arrangement was not approved at the court meeting, with opposing votes accounting for 39.52%. Therefore, the resolution will not take effect, and the special dividend will not be distributed. The offeror Earning Ease had previously proposed to privatize SOUNDWILL HOLD through a scheme of arrangement at a total cancellation price of HKD 8.5 per share, including cash of HKD 7.5; and to pay a special dividend of HKD 1 in cash
