Wang Jianfeng made an offer to acquire the remaining 25% stake in Silver Tide Holdings Limited (SEHK:1943) for HKD 85 million on August 19, 2022. The offer per share is HKD 0.34 and total number of shares to be acquired is 250 million. On August 15, 2022, Wang acquired 75% stake for HKD 255 million in Silver Tide Holdings Limited (SEHK:1943).

Offeror intends to finance and satisfy the consideration payable under the Offer by Head & Shoulders Securities in full. It is intended that all of the six Directors will resign after Completion and with effect from the earliest time permitted under the Takeovers Code. The Offeror intends to nominate new Directors to the Board at the earliest time as allowed under the Takeovers Code.

Transaction is expected to close on October 20, 2022. Merdeka Corporate Finance is acting as financial advisor to Wang Jianfeng.