COASTAL GL (01124) intends to receive a full purchase offer from S2800 Trust and will resume trading on October 20th.

COASTAL GL (01124) announced that on September 22, 2025, the company was informed by the seller that Coastal International Holdings Limited and the offeror Tao Qian Limited (as the buyer) intend to enter into a sale and purchase agreement by the end of October 2025. In accordance with this, the seller intends to sell sales shares (a total of 153,126,197 shares, representing approximately 36.93% of the company's total issued share capital as of the date of this announcement) and sell loans to the offeror. The company has been informed that as of the date of this announcement, the offeror is still conducting due diligence on the company, and therefore, both parties have not yet entered into a formal sale and purchase agreement. The company has applied to the Stock Exchange for resumption of trading in shares from 9:00 am on October 20, 2025. In accordance with Rule 26.1 of the Takeovers Code, upon completion, the offeror must make a mandatory conditional cash offer for all securities issued by the company (excluding those already owned by the offeror and its concert parties). It is understood that the seller is a limited company registered in the British Virgin Islands, with (a) Executive Director Mr. Jiang Ming holding approximately 59.14%; (b) Tian Di Investment Limited (a limited company registered in Hong Kong, fully owned by Mr. Jiang Ming) holding approximately 21.42%; (c) Company Secretary Mr. Zheng Rongbo holding approximately 5.38%; (d) Shi Fu Development Limited (a limited company registered in the British Virgin Islands, fully owned by Ms. Wang Hongmei) holding approximately 5.38%; (e) Tao Linsheng holding approximately 5.38%; and (f) Executive Director Mr. Lam Chun Sun holding approximately 3.30%. The offeror is an investment holding company that does not conduct any business operations. The offeror is wholly owned by a trust, namely S2800 Trust. The trustee is Sheng Feng Global Trust Limited. As of the date of this announcement, the settlor and sole beneficiary of the trust is Joy Limited. Joy Limited is fully owned by Mr. Lam Tin Kin.