Michael Kadoorie and Philip Kadoorie, Non-Executive Directors of The Hongkong and Shanghai Hotels, Limited completed the acquisition of an additional 12.4% stake in The Hongkong and Shanghai Hotels, Limited (SEHK:45) from Solis Capital Limited and others.
February 10, 2022
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Michael Kadoorie and Philip Kadoorie, Non-Executive Directors of The Hongkong and Shanghai Hotels, Limited entered into a conditional share sale and purchase agreement to acquire an additional 12.4% stake in The Hongkong and Shanghai Hotels, Limited (SEHK:45) from Solis Capital Limited and others for HKD 2.6 billion on January 13, 2022. Buyers will acquire 185,179,077 shares from Solis Capital Limited and 20,132,108 Shares from undisclosed persons at a price of HKD 12.8 per share. Completion is conditional upon the Purchasers having obtained a waiver from the Executive Director of the Corporate Finance Division of the Securities and Futures Commission of any obligation under Rule 26 of the Takeovers Code for the Purchasers (or any persons acting in concert with either of them) to make a mandatory general offer for any shares of The Hongkong and Shanghai Hotels, Limited as a result of the transaction. Transaction will terminate if the Waiver has not been obtained by March 31, 2022, unless extended.
Michael Kadoorie and Philip Kadoorie, Non-Executive Directors of The Hongkong and Shanghai Hotels, Limited completed the acquisition of an additional 12.4% stake in The Hongkong and Shanghai Hotels, Limited (SEHK:45) from Solis Capital Limited and others on February 11, 2022. Earlier the agreement has become unconditional.
Hongkong and Shanghai Hotels Ltd is an investment holding company principally engaged in the hotel operation. The Company operates its business through three segments. The Hotels segment engages in operating hotels, leasing of commercial shopping arcades. The Commercial Properties segment engages in the development, leasing and sale of residential apartments, leasing of retail and office premises as well as operating food and beverage outlets in such premises. The Clubs and Services segment engages in the operation of golf courses, the Peak Tram, retailing of food and beverage products and laundry services and the provision of management and consultancy services for clubs.
Michael Kadoorie and Philip Kadoorie, Non-Executive Directors of The Hongkong and Shanghai Hotels, Limited completed the acquisition of an additional 12.4% stake in The Hongkong and Shanghai Hotels, Limited (SEHK: 45) from Solis Capital Limited and others.
THE HONGKONG AND SHANGHAI HOTELS, LIMITED 
