ST Holdings (08305) main shareholder Advanced Pacific sells 200 million shares of the company.

ST HLDGS (08305) announced that the major shareholder, Advanced Pacific Enterprises Limited ("Advanced Pacific"), has notified the company's board of directors that on April 17, 2025 (after trading hours), they have entered into a sales agreement with Mr. Li Mengda. According to the agreement, Advanced Pacific has agreed to sell and Mr. Li has agreed to purchase 100 million shares of the company, representing approximately 7.94% of the total issued share capital of the company, for a total consideration of HK$17 million ("Sale Item One"). On the same day, the board received notification from Advanced Pacific that they have entered into a sales agreement with Ms. Zhang Peipei. According to the agreement, Advanced Pacific has agreed to sell and Ms. Zhang has agreed to purchase 100 million shares of the company, representing approximately 7.94% of the total issued share capital of the company, for a total consideration of HK$17 million ("Sale Item Two"). Advanced Pacific further notified the company that, to their knowledge, Mr. Li, apart from currently holding 36 million shares, is independent and unrelated to the company and its affiliates. Similarly, Advanced Pacific stated that Ms. Zhang, apart from currently holding 18.1 million shares, is also independent and unrelated to the company and its affiliates. As of the date of this announcement, Advanced Pacific is wholly owned and beneficially owned by Mr. Xiang Xin, an executive director and chairman of the board. After completing Sale Item One and Sale Item Two, Advanced Pacific will hold approximately 2.82% of the total issued share capital of the company and will no longer be a major shareholder. Mr. Li will hold approximately 10.79% of the total issued share capital of the company and become a major shareholder. Ms. Zhang will hold approximately 9.37% of the total issued share capital of the company. The board expects that Sale Item One and Sale Item Two will not have any adverse impact on the business operations of the group.