Century City International Holdings & Regal Hotels International: Waiver Granted for Circular Deadline Extension

Key Points for Investors

• Waiver Granted by HKEX: On April 23, 2026, the Hong Kong Stock Exchange (HKEX) granted a waiver to both Century City International Holdings Limited and Regal Hotels International Holdings Limited, allowing them to extend the deadline for despatching their shareholder circulars related to a major transaction.
• Extension of Circular Deadline: The deadline for despatching the circulars has been extended to May 27, 2026. This waiver is conditional; if circumstances change, HKEX may withdraw or alter the waiver.
• Transaction Background: The companies are engaged in a significant transaction, referenced in joint announcements dated March 22, 2026, and April 15, 2026. The Vendor and Purchaser are negotiating to finalize a Formal Agreement by April 30, 2026. If negotiations fail, the Preliminary SP Agreement remains effective.
• Reasons for Delay: The extension is due to the need for additional time to prepare critical information for shareholders, including:
  • Indebtedness statement
  • Working capital sufficiency statement
  • Financial impact of the transaction
  • Valuation report
• Potential Price Sensitivity: The information to be disclosed in the circulars—financial impact, valuation, indebtedness, and working capital—will be vital for shareholders to assess the merits and risks of the transaction. Any material changes or findings in these documents may significantly affect share values.
• Leadership and Governance: Both companies’ boards comprise experienced executives and independent directors, signaling strong corporate governance and oversight in the transaction process.

Implications for Shareholders

• Price-sensitive developments: The forthcoming circulars will contain material financial information. Investors should be aware that the release of these documents could have a direct impact on share prices, depending on the disclosed financial position, transaction valuation, and working capital sufficiency.
• Transaction Uncertainty: If the Formal Agreement is not reached by April 30, 2026, the Preliminary SP Agreement will remain in force, which could affect the timeline and terms of the transaction.
• Regulatory Risks: The waiver is not unconditional—HKEX reserves the right to withdraw or amend it if the situation changes, which could introduce further uncertainty.

Summary

Century City International Holdings Limited and Regal Hotels International Holdings Limited have secured a crucial waiver from HKEX, providing additional time to complete and circulate shareholder documents related to a significant corporate transaction. The extension is intended to ensure comprehensive disclosure of financial and transactional details, which are expected to be highly price-sensitive. Investors are strongly advised to monitor developments closely as the despatch of these circulars could materially affect share values.

Board Composition

Century City Board: Chairman & CEO Mr. Lo Yuk Sui, Vice Chairmen Mr. Jimmy Lo Chun To and Ms. Lo Po Man, COO Mr. Kenneth Ng Kwai Kai, Mr. Kelvin Leung So Po, and independent directors Mr. Anthony Chuang, Ms. Winnie Ng, JP, and Mr. Wong Chi Keung.
Regal Board: Chairman & CEO Mr. Lo Yuk Sui, Vice Chairman & Managing Director Ms. Lo Po Man, Mr. Kelvin Leung So Po, Mr. Jimmy Lo Chun To, Mr. Kenneth Ng Kwai Kai, non-executive directors Dr. Francis Choi Chee Ming, GBS, JP, Ms. Belinda Yeung Bik Yiu, JP, and independent directors Ms. Alice Kan Lai Kuen, Professor Japhet Sebastian Law, Ms. Winnie Ng, JP, and Mr. Wong Chi Keung.

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. The potential impact of the forthcoming circulars and the transaction on share prices will depend on the actual disclosures and market reaction. Investors should consult their financial advisors and monitor official company announcements for further developments.

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