COASTAL GL (01124) receives a general offer at a discount of approximately 29.45%; trading resumes on November 13.

COASTAL GL (01124) and the offeror DEEP WATER STRATEGY LIMITED jointly announce that the board was informed by the offeror on August 21, 2026 (after trading hours) that the offeror (as buyer), the receiver (as receiver), the security trustee and the lender entered into a sale and purchase agreement, pursuant to which the receiver conditionally agreed to sell, and the offeror conditionally agreed to purchase, approximately 153 million shares (representing approximately 36.93% of the entire issued share capital of the company as at the date of this joint announcement). All conditions precedent under the sale and purchase agreement have been fulfilled, and the acquisition was completed on August 24, 2026. Pursuant to Rule 26.1 of the Takeovers Code, the offeror is required to make a mandatory conditional cash offer for all issued shares (other than those already owned and/or agreed to be acquired by the offeror). The offer price is HK$0.0776 per offer share, representing a discount of approximately 29.45% to the closing price of HK$0.11 per share as quoted on the Stock Exchange on the last trading day. Upon the close of the offer, the offeror intends to maintain the listing status of the shares on the Stock Exchange. If the level of acceptances of the offer shares results in the shareholding of the offeror and parties acting in concert with it reaching 75% of the total issued share capital of the company, the sole director of the offeror and the new directors to be appointed to the board will undertake to the Stock Exchange to take appropriate steps as soon as possible after the close of the offer to ensure that there is sufficient public float of the shares after the close of the offer. The company has applied for resumption of trading in the shares on the Stock Exchange with effect from 9:00 a.m. on November 13, 2026. As at the date of this joint announcement, the offeror is legally and beneficially wholly owned by Mr. Cao Mengjie, and the sole director of the offeror is Mr. Wong Piu.