Suen Cho Hung, Paul made a mandatory offer to acquire remaining 57.9% stake in Enviro Energy International Holdings Limited for approximately HKD 330 million.
Latest time and date for acceptance of the offer on the first closing date is June 25, 2015. Results of the offers will be announced on June 25, 2015. Subsequent closing date of the offer if it becomes unconditional on the first closing date will be July 9, 2015. Independent Board Committee comprising of non-executive Directors David Tsoi, Lo Chi Kit and Tam Hang Chuen has been set up to advice Independent Board Committee shareholders. As on June 4, 2015, Suen Cho Hung secured a loan facility of up to HKD 330 million granted by Get Nice. Suen Cho Hung does not intend to exercise any power of compulsory acquisition of any offer shares outstanding and not acquired under the offers after the close of the offers. Suen will be appointed as an executive Director and the Chairman of the Board, Sue Ka Lok will be appointed as an executive Director and the Chief Executive Officer, Lai Ming Wai will be appointed as an executive Director, Chiang Bun will be appointed as an independent non-executive Director and Leung Pik Har, Christine be appointed as an independent non-executive Director. The Board of Enviro Energy recommended the shareholders to approve the transaction.
Tricor Tengis Ltd. acted as registrar for Enviro Energy. Opus Capital Limited acted as independent financial advisor for Independent Board Committee. Get Nice Securities Limited and Veda Capital acted as financial advisors for Suen Cho Hung, Paul.