I have to add one point though:
1) the new owner now owns about 74%+ of the total issued shares and if he want 593.HK as the financing vehicle, then he will have to push the stock price above the $8.61 - the supposed G.O price to the public so that no one going to sell the share to him and the company will remain as a public company.
In that case, 664.HK will have to be above $3.61 as well, otherwise, an arbitrage opportunity will exit and people like me should take advantage of it.
To keep the stock price above $8.61 without buying them or ask his friends to buy it, the new owner will have to put up a good story - that's why they will have to wait till the weekend to conclude the deal - the new owner will have the time to talk to the press about his "grand plan" and meet with potential institutional investors.
There is only 55M in theory held by the public, but we know that the formal majority shareholder - Mr. Lee still owns 5% and 9.63% owned by 莊舜而 (前名:莊淑涴 (21,208,800 shares), there are only 21m shares out there...... very easy to do a lot of things....
Let's see about that.
Once again, congrats on your work - you have proved yourself a truly expert on the whole group.
Very sorry that I have jumped to the conclusion - looks like Mr Lee have sold out all his AOL shares which will give Mr. Zhou (178,042,929 shares) 79.85% of the company with the other party holding the 9.63%. Then again, Mr. Lee's disclosure not made public yet, therefore, we have no way knowing how Ms. 莊舜而 will deal with her holdings.
In any case, Mr. Zhou will need to reduce his holding or, by issue more shares later on - like the exercise of the existing warrants to dilute it or, do placement at higher prices, or, issue new shares.
I am looking forward for the Monday paper, to see what he has to say about his future business plan for the company.
I have a question for brother "LOUIS" - you already know the selling price of 593.HK by the new owner and we also know that 莊舜而 owns the 9.63% of 593.HK via COL Capital (383.HK), the last price she paid is about HK$6 about 5 month ago. As 593.HK and 664.HK remain SUSPENDED at the moment, will you consider buy some 383.HK to have a reduced exposure of 593.HK - it happened that 383.HK was buying back its shares anyway, the downside is limited.
No idea who this 周政 is. It's a common name and there could be 20 or more "周政" living in any of the big cities in China, like SZ, BJ or SH.
I doubt this could be the one from China Food as you said yourself, if it is, we should see China Food on the majority shareholding list - we are talking about a Hk$1b investment here, an state official will have no way could come up with such a fortune on his own without been investigated by the authority for corruption.
I can't find anything useful on the person as well as the 3 vehicles he used for the transaction. However, other than the 2 "Holdings Limited", the third one call "Knowledge Sillicon valley Limited" is very much telling: Mr Zhou might has US business background in I.T. related business.
A name search on "Zhou Zheng USA" yield interesting results: could be the Zhou Zheng from CIC, SVP (Senior Vice President?). In a US company, SVP might be nothing, but for a state investment vehicle with its new head appointed this year, a SVP could be a hot shot!
No need to guess, let's wait and see la.
Also, I don't think 56.HK is a vehicle to capture the upside on 593.HK in this case, as 56.HK will be selling all its shares at HK$8.61, which is known and completely without any further upside. While 383.HK, given its smaller market cap and fewer free trade-able shares, will be fully benefit from the extra upside of 593.HK post M&A.
This is only my own opinion - the thin trading volume and super performance YTD of 383.HK gives me confidence.