A8 New Media Group Limited (HK:0800) has released an update.
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A8 New Media Group Limited, in conjunction with LuxOrigo Investment Limited, has announced plans to privatize the media company through a scheme of arrangement, leading to the delisting of its shares from the stock exchange. Shareholders will receive a cash payment as the company cancels existing shares and issues new ones to LuxOrigo, resulting in 100% ownership by the offeror and its parties. The transition includes an option offer for outstanding share options, with certain exclusions, but no increase in the cancellation price will be entertained post-announcement.
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