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Harbin Electric's (01133) H Share Offer lapses
22 Jul 2019
(Infocast News) Harbin Electric Company (01133) (HEC) announced that as at 4:00 p.m. on 19 July 2019, Harbin Electric Corporation (HEG) had received valid acceptances under the H Share Offer (after taking into account withdrawals of acceptances of the H Share Offer pursuant to Rule 17 of the Takeovers Code) in respect of 596.661 million H shares, representing 88.32% of the total issued H shares.

The H Share Offer is conditional on, among other things, minimum valid acceptances of the H Share Offer being received (and not, where permitted, withdrawn) by 4:00 p.m. on the Closing Date (or such later time or date as HEG may, subject to the Takeovers Code, decide) amounting to at least 90% of the H shares in issue.

The Acceptance Condition was not satisfied. Accordingly, the H Share Offer had not become unconditional and lapsed on 19 July 2019.

(WL)
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