Pentamaster International privatization scheme sanctioned, delisting expected

Pentamaster International (HKEX: 1665) has announced that its scheme to privatize the company has been sanctioned by the Grand Court. The privatization proposal includes a special dividend for shareholders. The company expects to deliver the court order to the Registrar of Companies in the Cayman Islands by March 17, 2025, Cayman Islands time, fulfilling key conditions. Assuming all conditions are met, the scheme is expected to become effective on March 17, 2025, Cayman Islands time. The Hong Kong Stock Exchange has approved the withdrawal of the company's listing, set to take effect at 4:00 p.m. on March 19, 2025, subject to the scheme's effectiveness. Shareholders should receive cash payments on or before March 26, 2025. The register of members will be closed from March 13, 2025 to determine shareholder entitlements for both the cancellation price and the special dividend.