HSSP INTL despatches offer document; new directors appointed

Hang Sang (Siu Po) International Holding Company Limited (HSSP INTL, HKEX:3626) announced the despatch of its composite document regarding the mandatory unconditional cash offer from Wade Investment SPC Ltd, acting on behalf of Wade Investment SP1. This offer, managed by Altus Investments Limited, seeks to acquire all issued shares of HSSP INTL not already owned or agreed to be acquired by the Offeror and related parties. Independent shareholders received the document on May 26, 2025, which includes offer details, a recommendation from the Independent Board Committee, and advice from the Independent Financial Advisor. Concurrently, HSSP INTL announced the appointment of Mr. Lu Xiaoma and Ms. Xin Yue Jasmine Geffner as executive directors, effective May 26, 2025. These appointments align with the Offeror's intentions disclosed in previous announcements. The offer remains open for acceptance until 4:00 p.m. on June 16, 2025, with announcement of results expected by 7:00 p.m. on the same day. While the company has appointed 2 new executive directors, it does not meet the requirement of minimum 3 independent non-executive directors under the Listing Rules.