Legend Upstar Holdings Limited: Key Update on Privatisation Scheme – Court Hearing Date Changed and Revised Timetable Announced

Summary of the Announcement

Legend Upstar Holdings Limited (“the Company”; Stock Code: 459) and Wealth Builder Holdings Limited (“the Offeror”) have jointly announced a change in the scheduled court hearing date related to the proposed privatisation of the Company. This move, alongside the updated expected timetable for the scheme of arrangement, is a significant development that investors and shareholders should closely monitor.

Key Points Investors Must Know

• Change of Court Hearing Date: The Grand Court hearing originally set for 13 March 2026 (Cayman Islands time) has been postponed to 19 March 2026 to accommodate the Court’s schedule.
• Announcement of Court Hearing Results: The results of the Court Hearing, the expected Effective Date of the Scheme, and the expected date for withdrawal of the Company’s listing will be published no later than 8:30 a.m. on 20 March 2026.
• Scheme Record Date: The new record date for the scheme is 26 March 2026.
• Effective Date for the Scheme: The scheme is expected to become effective on 26 March 2026 (Cayman Islands time), assuming all conditions are met.
• Withdrawal of Listing: If the scheme becomes effective, the Company’s shares will be withdrawn from the Stock Exchange at 4:00 p.m. on 30 March 2026.
• Payment of Cancellation Price: Cheques for the cancellation price will be dispatched to eligible shareholders on or before 9 April 2026 (subject to specific severe weather arrangements in Hong Kong).
• Responsibility of Parties: The Offeror, the Company, their respective advisers, and the Share Registrar take no responsibility for any potential loss or delay in postal transmission of cheques.

Details and Implications for Shareholders

Privatisation Process: This announcement is part of the ongoing process to privatise Legend Upstar Holdings Limited by way of a scheme of arrangement under section 86 of the Companies Act of the Cayman Islands. The Company also proposes to withdraw the listing of its shares from the Stock Exchange of Hong Kong.

Price-Sensitive Elements:

• The timing of the withdrawal of listing and the cancellation price payment are both crucial for investors who may be considering trading the shares before the scheme becomes effective.
• The announcement reiterates that implementation of the proposal and the scheme are subject to the fulfillment or waiver of certain conditions. There remains a risk that the scheme may not become effective and the proposal may not be implemented.
• Shareholders and investors are strongly cautioned to exercise care when dealing in the Company’s securities in light of these uncertainties.

Severe Weather Contingency: The deadline for dispatching cheques will be postponed if severe weather (such as a typhoon signal number 8 or above, black rainstorm warning, or “Extreme Conditions” warning) is in effect at noon on the scheduled business day.

Directors’ Responsibility Statement

Both the boards of the Company and the Offeror have declared their joint and several responsibility for the accuracy of the information in the announcement, except for information relating to the other party. They have confirmed that all details and opinions are accurate to the best of their knowledge and that no material facts have been omitted.

What Investors Should Do

• Monitor Announcements: Stay alert for the outcome of the Court Hearing and the subsequent effective date for the scheme and delisting.
• Consider Price Impact: The privatisation and potential delisting are highly price-sensitive events. Any delays, changes, or failure to implement the scheme could result in share price volatility.
• Seek Professional Advice: If in doubt, consult a licensed securities dealer, registered institution, stockbroker, bank manager, solicitor, or other professional adviser.

Conclusion

This update on the change of court hearing date and the revised timetable for the privatisation scheme of Legend Upstar Holdings Limited is a critical development. The outcome will decisively impact the Company’s listing status and the value that shareholders may realise. Investors should pay close attention to further announcements and be prepared for potential market movements as the timetable progresses.

Disclaimer: The information provided in this article is for informational purposes only and does not constitute investment advice. Shareholders and investors should conduct their own research and seek independent professional advice before making any investment decisions. The implementation of the proposed scheme is subject to conditions and may not proceed as planned, which could result in significant changes to the Company’s share price and listing status.

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