Vesync privatization bid receives further shareholder support

Vesync Co., Ltd (HKEX: 2148) announced that Victory III Co., Ltd (the Offeror) has received a non-binding letter of support from Meridian Future Limited, representing approximately 1.86% of Vesync's issued share capital or 11.35% of the shares held by Disinterested Shareholders. This support is for the proposed privatization of Vesync by way of a scheme of arrangement. With the Meridian Future support, the total level of backing from Disinterested Shareholders rises to approximately 21.76%. The company cautions that the proposal remains subject to conditions being fulfilled or waived, including approval of the Investor Arrangement as a special deal. Shareholders and potential investors are advised to exercise caution when dealing in the company's securities.