TOKYO CHUO Holdings (01939) changes ownership to ESSA Group, which acquired 74.99% of the shares for 165 million Hong Kong dollars. Trading will resume on May 6th.

TOKYO CHUO (01939) and the offeror ESSA FINANCIAL GROUP LTD jointly announced that the company has received notice from the seller (Shokai Ando, Executive Director and Chairman of the Board, who was the controlling shareholder before completion) and the offeror that on April 25, 2025, the seller, offeror, and other buyers entered into a sales agreement. Under this agreement, the seller agreed to sell, and the offeror and other buyers agreed to purchase, a total of 375 million shares of the company, equivalent to approximately 74.99% of the company's total issued share capital on the date of the joint announcement. The total price for the shares to be sold is HK$165 million, equivalent to HK$0.44 per share. The transaction was completed on April 25, 2025. As of the date of this joint announcement, the company has 500 million issued shares and 48 million warrants not exercised, holders of which can subscribe to 48 million new shares at an exercise price of HK$0.80 per share. Immediately before completion, in addition to the 375 million shares of shares to be sold held by the seller, the offeror, other buyers, and any person acting in concert with them do not hold, own, control, or have authority to instruct any shares or other securities of the company. After completion and as of the date of this joint announcement, the offeror, other buyers, and any person acting in concert with them have interests in a total of 375 million shares, equivalent to approximately 74.99% of the company's total issued share capital. The offer price of HK$0.44 per share for the shares under the offer is equal to the price per share of the shares to be sold paid by the offeror and other buyers under the sales agreement. In addition, the company has applied to the Stock Exchange for trading in its shares to resume on Tuesday, May 6, 2025, starting at 9:00 AM.