China Modern Dairy delays transaction circular despatch to end 2025

China Modern Dairy Holdings Ltd. (CMD) has announced a delay in the despatch of its circular pertaining to major and connected transactions. The CMD Circular, which will include details of share purchase agreements, a possible mandatory conditional cash offer for China Shengmu Organic Milk Limited (CSM), and a notice for the CMD Extraordinary General Meeting, is now expected to be despatched on or before 31 December 2025. This postponement is due to the additional time required to prepare the comprehensive information for inclusion in the circular.

The transactions involve the sale and purchase of certain shares in CSM and a potential mandatory conditional cash offer by CLSA Limited on behalf of CMD to acquire all issued shares of CSM not already owned or agreed to be acquired by CMD and Start Great Holdings Limited. Shareholders and potential investors are reminded that the offer is contingent on the satisfaction or waiver of conditions precedent related to the Share Purchase Agreement completion. Consequently, the completion and the offer may or may not take place.

Shareholders and potential investors of both CMD and CSM are advised to exercise caution when trading their respective shares. Further announcements will be made once the Share Purchase Agreement completion occurs, and professional advice is recommended for those in doubt about their position.