CNBM will repurchase and cancel about 842 million H shares

CNBM announced that the conditional cash offer by Morgan Stanley Asia Limited on behalf of the Company to repurchase up to approximately 842 million H Shares at HK $4.03 per H Share closed at the Latest Time for Acceptance (i.e. 4:00 p.m. on Wednesday, 5 March 2025). As at the Latest Time for Acceptance, the Registrar had received valid acceptances from accepting Shareholders for a total of approximately 1,765 million H Shares under the Offer, representing approximately 209.69% of the maximum number of H Shares to be repurchased by the Company under the Offer and approximately 20.93% of the total number of issued Shares and approximately 38.72% of the total number of issued H Shares as at the date of this announcement.

As the number of H Shares tendered under the Offer exceeds the maximum number, the Company will determine the total number of H Shares to be repurchased from each accepting Shareholder in accordance with the formula set out in the Offer Document. A total of approximately 842 million H Shares (i.e. The maximum number) will be repurchased and cancelled by the Company upon the completion of the Offer, which is expected to take place on or before Friday, 14 March 2025. The total consideration payable by the Company for the repurchase of the above H Shares pursuant to the Offer is approximately HK $3,392 million.

Immediately after the completion of the Offer, the aggregate interests of the CNBM Parent Concert Group in the issued Shares will increase from approximately 45.02% to approximately 50.01%.