Genor Biopharma acquisition faces circular delay

Genor Biopharma Holdings (HKEX:6998) announced a delay in dispatching the circular concerning its proposed merger, reverse takeover, and related transactions, now expected by June 30, 2025. The company is still preparing the New Listing Application, including financial information for both Genor and the target company. On January 24, 2025, the company extended the deadline for the New Listing Application to June 30, 2025, and the Long Stop Date for the Merger Closing to December 31, 2025. The company has requested, and expects to receive, executive consent for the circular delay. Shareholders are cautioned that the merger's completion depends on fulfilling or waiving precedent conditions and regulatory approval of the New Listing Application. The whitewash waiver and shareholder approval at an EGM are also critical and uncertain.