Wang He made an offer to acquire 10% stake in China Tontine Wines Group Limited (SEHK:389) for HKD 18.1 million on June 12, 2024. A cash consideration of HKD 18.1 million valued at HKD 0.6 per share will be paid by the buyer. As part of consideration, HKD 18.1 million is paid towards common equity of China Tontine Wines Group Limited.

The Offeror will finance the consideration payable under the Partial Offer by his personal savings. Wang He is pleased to announce that on June 21, 2024, the consent from the Executive in respect of the Partial Offer has been obtained and the Pre-Condition has been fulfilled.