HKBN Offer: China Mobile's Takeover Now Unconditional

China Mobile Hong Kong Company Limited's voluntary general conditional cash offer to acquire all issued shares of HKBN Ltd. has become unconditional as of September 3, 2025. This follows the satisfaction of the Acceptance Condition, with valid acceptances and shares already held by China Mobile Hong Kong and parties acting in concert, reaching an aggregate of 1,045,640,971 shares. This represents approximately 70.70% of all HKBN issued shares.

The offer received valid acceptances for 603,443,423 shares, approximately 40.80% of HKBN's issued shares, by 4:00 p.m. on the First Closing Date. Including the 442,197,548 shares already held by the offeror, representing approximately 29.90%, the combined holdings surpassed the 50% voting rights threshold required for the offer to become unconditional.

In accordance with Rule 15.3 of the Takeovers Code, the Share Offer will remain open for acceptance until 4:00 p.m. on September 17, 2025. Cheques for the cash consideration will be dispatched within seven business days following the later of the Unconditional Date (September 3, 2025) or the receipt of a complete and valid acceptance.