Chen Yidong, Lin Zheng, Wang Kuan and Chen Jian made the offer to acquire remaining 25% stake in Yield Go Holdings Ltd. (SEHK:1796) for HKD 86.5 million on May 11, 2022. As per the transaction, Chen Yidong, Lin Zheng, Wang Kuan and Chen Jian made the offer to acquire 120 million shares at HKD 0.7212 per share. In a related transaction, Chen Yidong, Lin Zheng, Wang Kuan and Chen Jian acquired 75% of stake in Yield Go Holdings Ltd. (SEHK:1796) from Hoi Lang Holdings Ltd for HKD 247.5 million on April 29, 2022.

The Offeror intends to fund the consideration payable under the Offer in full by the Facility of HKD 87 million. Post completion, Chen Yidong, Lin Zheng, Wang Kuan and Chen Jian intends to maintain listing status of Yield Go Holdings Ltd. The board is currently made up of six Directors, comprising three executive Directors, being Man Hoi Yuen, Ng Yuen Chun, and Ho Chi Hong and three independent non-executive Directors, being Chan Ka Yu, Lo Ki Chiu and Leung Wai Lim. After completion of offer Ng Yuen Chun will resign and the offeror intends to nominate no more than 2 new Directors to the Board.

The Independent Board Committee comprising Chan Ka Yu, Lo Ki Chiu and Leung Wai Lim (being all of the independent non-executive Directors) has been established to recommend shareholders of Yield Go Holdings Ltd. The offer is unconditional. The offer period commenced on June 22, 2022 and will close on July 13, 2022. Chu Tat Hoi and Chan Man Yee of Capital 9 Limited acted as financial advisor and Boardroom Share Registrars (HK) Limited acted as registrar to offerors.

Wallace So of Merdeka Corporate Finance Limited has been appointed as the independent financial adviser to advise the independent board committee and the independent shareholders of Yield Go in relation to the offer.