playtoearnioscryptogames| CIC Global (06819): Completed the sale of InceptionPoint Systems special interim dividend of HK$4.11 per share

Newsletter summary

CIIC completes global sale of InceptionPointSystemsLtdPlaytoearnioscryptogames. stock ownershipPlaytoearnioscryptogamesReceived US $246.5 million and declared a special interim dividend of about US $220 million, HK $4.11 per share. The listing status will be withdrawn on May 8, and the voluntary winding-up process is expected to commence.

Text of news flash

[CIIC Global sold its subsidiary Inception Point Systems at a final purchase price of US $246.5 million] CIIC Global (06819) announced that it had completed the sale of its subsidiary Inception Point Systems Ltd on April 25, 2024. The entire issued share capital of. After the completion of the transaction, IntelliCentrics Holding will no longer directly or indirectly hold any shares in the target company or its group company. The final purchase price for the sale was $246.5 million, in line with the previously announced minimum purchase price. To reward shareholders, the board decided to declare a special interim dividend of about $220 million. This amount is derived from the final purchase price minus the general reserve amount. Eligible shareholders (except Central Securities and Tricor BVI Holdco) will receive a special interim dividend of HK $4.11 per share. All outstanding conditions have been fulfilled and upon completion of the special interim dividend payment, the company will de-list its shares on the Stock Exchange with effect from 09:00 on Wednesday, 8 May 2024. In addition, the company expects to employ a voluntary liquidator in accordance with the Company Law to realize the residual value of the company's remaining assets. During the liquidation process, eligible shareholders (excluding central securities and Tricor BVI Holdco) will have the right to distribute the cash derived from the sale of assets on a pro rata basis. However, there is not expected to be a significant cash distribution after the liquidation.