Asia Standard Group Announces Major Reorganisation

Asia Standard International Group (HK:0129) has released an update.

Asia Standard International Group Limited, along with The Sai Group Limited and Asia Standard Hotel Group Limited, have announced a proposed group reorganisation that includes a share exchange offer complemented by cash payments. This strategic move aims for the cancellation of all scheme shares through a Bermuda court-sanctioned arrangement and will lead to the withdrawal of the Asia Standard Hotel Group’s shares from listing. The reorganisation is set to take effect subject to certain conditions and regulatory approvals.

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