Yitai Coal completes Shandong Xinchao Energy share acquisition

Inner Mongolia Yitai Coal Co., Ltd. (SSE:900948) announced the completion of its tender offer for shares of Shandong Xinchao Energy Co., Ltd. ("ST Xinchao"). The transaction, approved at a board meeting on April 18, 2025, sees Yitai Coal acquire 3,407,350,144 shares of ST Xinchao at a price of CNY 3.40 per share, representing 50.10% of ST Xinchao's total share capital. The tender offer period ran from April 23, 2025, to May 22, 2025. As of May 22, 2025, shareholders holding said 3,407,350,144 shares, representing 50.10% of ST Xinchao's total share capital, had pre-accepted the tender offer from Yitai Coal, and the tender offer was deemed effective. Settlement and transfer procedures have now been completed. The company also announced its 2024 annual equity distribution plan. B shares will receive a cash dividend of USD 0.139022 per share, payable on June 24, 2025, to shareholders of record as of June 10, 2025.