Genor Biopharma delays merger circular again

Genor Biopharma Holdings Limited has extended the deadline for despatching its circular to shareholders to on or before December 15, 2025. This delay is to address ongoing comments from regulators regarding the proposed merger and related transactions, following an initial extension to November 30, 2025.

The comprehensive set of transactions includes a very substantial acquisition and connected transaction involving a proposed merger, a reverse takeover with a new listing application filed on April 15, 2025, and an application for a whitewash waiver. Other proposals cover a special deal for shareholder personnel, a change of company name, an increase in authorized share capital, and the adoption of a one-off share option plan.

Shareholders and potential investors are cautioned that the merger closing is contingent upon fulfilling or waiving merger conditions precedent. These include approval of the new listing application by the Stock Exchange and the grant of the whitewash waiver by the Executive. Failure to secure these approvals or the whitewash waiver from independent shareholders at the EGM would prevent the merger from becoming unconditional.