GIORDANO INT'L: Sino Wealth and Clear Prosper make payments to relevant shareholders

GIORDANO INT'L (00709.HK) announced that on February 16, it received a request from Clear Prosper and major shareholder Sino Wealth to release a payment plan involving payments to relevant shareholders, including: each 2016 shareholder (i.e., shareholders as of May 18, 2016) will receive a cash payment equivalent to HKD 0.996; and each 2022 shareholder (i.e., shareholders as of September 13, 2022) will receive a cash payment equivalent to HKD 0.412.

Claims under the payment plan can be submitted as soon as possible before 5:00 PM on May 16 (Saturday) by submitting a completed claim form along with relevant documents, either by mail or delivered in person to the arbitrator. On July 16, the arbitrator will send notifications by regular mail to all claimants informing them whether their claims are successful. The 2016 shareholders and 2022 shareholders refer to shareholders other than Sino Wealth, Best Sincere Limited, and Firstrate Enterprises Limited.

The statement indicated that through friendly consultations, the Securities and Futures Commission, Sino Wealth, and Clear Prosper have decided to reach a settlement regarding their disputes concerning the claims in accordance with the Takeovers Code. Sino Wealth and Clear Prosper agree to implement the payment plan based on the explicit agreement with the Securities and Futures Commission, and will do so without admitting any liability or fault