Gain Plus Holdings takeover offer lapses due to lack of acceptance

The mandatory conditional cash offer by Get Nice Securities, acting on behalf of Asia General Industries Limited, to acquire all issued shares of Gain Plus Holdings Limited (HKEX:9900) has lapsed, according to a joint announcement. The offer, which required acceptances leading to Asia General Industries and its concert parties holding over 50% of Gain Plus's voting rights, failed to meet this condition by the closing date of February 11, 2025. As of that date, the Offeror held 134,774,000 shares, representing approximately 36.23% of the total issued share capital. According to takeover regulations, Asia General Industries and its concert parties are now restricted from making another offer or acquiring additional voting rights in Gain Plus for twelve months, unless with special consent. Documents related to the lapsed offer will be returned to shareholders who tendered them.