Haitong Securities announces cash option for dissenting A-share holders

Haitong Securities (SSE: 600837) announced details regarding the cash option for dissenting A-share holders in the merger with Guotai Junan Securities. The cash option price is set at 9.28 RMB/share. The record date for eligible dissenting shareholders is February 5, 2025, with a submission period from 9:00 AM to 3:00 PM on February 6, 2025. Shareholders who voted against the merger proposal and continuously held their shares since the voting date are eligible to participate. The exercise price represents a 12.18% discount to the closing price of 10.41 RMB/share on February 5, 2025. Dissenting shareholders can choose to exercise their cash option for all or part of their eligible shares. Haitong Securities warns that exercising the cash option might result in a loss given the current market price. Trading of Haitong Securities A shares will be halted from February 6, 2025, and will remain suspended until delisting.