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Hysan Development Company Limited - Tender Offer 2024 (XS) - Results

ANNOUNCEMENT OF THE RESULTS OF THE OFFER BY THE OFFEROR TO THE HOLDERS OF U.S.$850,000,000 SUBORDINATED GUARANTEED PERPETUAL CAPITAL SECURITIES (ISIN: XS2123115029) (Stock Code: 40173) (the “Securities”) ISSUED BY ELECT GLOBAL INVESTMENTS LIMITED (Incorporated in the British Virgin Islands with limited liability)

17 APRIL 2024


Full announcement including disclaimers and offer restrictions available via Hong Kong Exchanges and Clearing Limited


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"The Offer expired at 16:00 hours (London time) (the “Expiration Time”) on 16 April 2024 (the “Expiration Date”).


As at the Expiration Time on the Expiration Date, U.S.$166,855,000 in aggregate principal amount of the Securities had been validly tendered pursuant to the Offer.


The Maximum Acceptance Amount is U.S.$100,000,000 in principal amount of the Securities and the Offeror, in its sole discretion, has decided to accept U.S.$99,995,000 in aggregate principal amount of the Securities validly tendered for purchase pursuant to the Offer (the “Final Acceptance Amount”).


As the aggregate principal amount of the Securities validly tendered for purchase pursuant to the Offer is more than the Final Acceptance Amount, a Scaling Factor of 50.933 per cent. will be applied. Each tender of Securities that is scaled in the manner as described in Tender Offer Memorandum will be rounded down to the nearest U.S.$1,000, being the permitted integral multiple of the Securities. The Offeror intends to apply pro rata scaling to each valid tender of Securities in such a manner as will result in both (a) the relevant Holder transferring Securities to the Offeror in an aggregate principal amount of at least the minimum denomination of U.S.$200,000 and (b) the relevant Holder’s residual amount of Securities (being the principal amount of the Securities the subject of the relevant Tender Instruction that are not accepted for purchase by virtue of such scaling) amounting to at least the minimum denomination of U.S.$200,000, and the Offeror therefore intends to adjust the Scaling Factor applicable to any relevant Tender Instruction accordingly and the Offeror might accept all or reject all of the tendered Securities which do not fulfil the criteria listed in (a) and (b). All Securities not accepted as a result of scaling will be returned to relevant Holder on the Settlement Date.


The Settlement Date in respect of the Offer is expected to be on or around 19 April 2024. After the Settlement Date, the aggregate principal amount of the Securities that will remain outstanding is U.S.$750,005,000."


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HYSAN DEVELOPMENT COMPANY LIMITED 希慎興業有限公司 (Incorporated in Hong Kong with limited liability) (the “Offeror”) (Stock Code: 00014) TENDER OFFER FOR PURCHASE OF U.S.$850,000,000 SUBORDINATED GUARANTEED PERPETUAL CAPITAL SECURITIES (ISIN: XS2123115029) (Stock Code: 40173) (the “Securities”) ISSUED BY ELECT GLOBAL INVESTMENTS LIMITED (Incorporated in the British Virgin Islands with limited liability) - XS2123115029

08 APRIL 2024


Full announcement including disclaimers and offer restrictions available via Hong Kong Exchanges and Clearing Limited


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"Further details of the Offer are set forth below:




RATIONALE FOR THE OFFER


The Offer is being made to manage the Offeror’s distribution payments and the Offer will be funded through the Offeror’s operating cash flows and/or the Offeror’s existing cash on balance sheet. The Securities purchased pursuant to the Offer will be surrendered by the Offeror to the Issuer for cancellation."


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