Cantelon (01912) granted exemption from minimum public shareholding requirement

According to Zhitong Finance App News, Cantelon (01912) issued an announcement. Following the end of the offer, Mr. Lin Qiang resigned as a director from the date of publication and at the closing date of the announcement. After the transfer registration office officially registered the transfer of the effectively accepted offer shares, a total of 109 million shares (accounting for about 23.66% of the company's total issued share capital at the announcement date) were held by the public. As a result, the Company did not comply with the 25% minimum public shareholding requirement set out in section 13.32B of the Listing Rules as of the closing date of the announcement. However, there have been no serious shortfalls in public shareholding.

Following the end of the offer, the Company applied to the Stock Exchange for a temporary exemption from strict compliance with section 13.32B (Exemption) of the Listing Rules. On September 22, 2026, the Exchange granted an exemption for the period from September 11, 2026 to November 6, 2026. However, the details of the exemption and the reason for the application must be disclosed in an announcement. The Exchange may withdraw or amend this exemption if the Company's circumstances change.

The Offeror and the Company are taking appropriate measures to restore the required minimum public shareholding as soon as practicable. The offeror will first seek to sell a sufficient number of shares through the open market and will evaluate the results of such open market sales in October 2026. The offeror may, in view of the results of such open market sales, appoint a placement agent to place a sufficient number of shares to an independent third party when necessary to comply with section 13.32B of the Listing Rules during the period of the exemption granted. The Company will issue a separate announcement to restore the minimum public shareholding amount in due course in accordance with the listing rules.