ASIA STANDARD: The Sai acquired 47.6013 million shares of ASIA STANDARD Hotels
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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
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