news flash·2025-05-19 13:11Core Viewpoint - WAH CHEONG DEVELOPMENT (B.V.I.) LIMITED, represented by Wanji Securities, has made a conditional voluntary cash offer to acquire all issued shares of Long Resources Limited at HKD 2.6 per share, with the total cash required for the offer estimated at HKD 289 million [1] Group 1 - The offeror and its concert parties currently hold 51.44 million shares of Long Resources, representing approximately 32.54% of the total issued shares [1] - The funding for the offer and related transaction costs will be provided through financing granted by Mr. Li and cash resources from the joint group [1] - The offer is subject to several conditions, including obtaining necessary exemptions and approvals from the Securities and Futures Commission and ASIC, and ensuring that Long Resources maintains its mining rights and processing licenses without adverse actions from regulatory authorities [1] Group 2 - The offer must receive valid acceptances for a sufficient number of Long Resources shares, which, when combined with shares already acquired or agreed to be acquired, would result in the offeror and its concert parties holding over 50% of the voting rights in Long Resources [1]