This is with reference to Company Announcement No. C07757-2024 dated December 5, 2024 filed by Asiabest Group International Inc. (“ABG” or the “Company”) pertaining to the Share Purchase Agreement between Tiger Resort Asia Limited (“TRAL”) and a consortium led by PremiumLands Corp. (“PLC”) for PLC’s purchase of 200,000,000 ABG common shares, representing all the shares owned by TRAL in ABG amounting to 66.67% of the latter’s total issued and outstanding shares.
After a careful evaluation of the transaction and a comprehensive review of the Company’s disclosures, submissions, and representations, the Exchange deems the foregoing transaction to be covered by the Exchange’s Revised Rules on Backdoor Listing (the “Revised Backdoor Listing Rules”). Said determination is anchored on the transaction resulting in or will result in a change of control of ABG and a substantial change in ABG’s business.
Given the foregoing, the trading of ABG’s shares will be suspended pending the Company’s compliance with the applicable requirements under the Revised Backdoor Listing Rules.
The Exchange will inform the trading participants and the investing public of further developments on the matter.
For your information and guidance. |
NOTICE