Asia Standard Hotel Group Limited (HK:0292) has released an update.
Asia Standard Hotel Group Limited has announced a strategic group reorganization that involves a share exchange offer, coupled with a cash payment to shareholders for the cancellation of scheme shares. The reorganization will result in the company becoming a non-listed entity and an indirect non-wholly-owned subsidiary of Asia Standard International Group Limited. This transformative step is pending approval from shareholders and will lead to the withdrawal of its listing on the Hong Kong Stock Exchange.
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