Pine Care Group announces the restoration of public float and resumption of trading

HONG KONG, Oct. 9, 2020 /PRNewswire/ -- A leading operator of care and attention homes for the elderly in Hong Kong, Pine Care Group Limited ("Pine Care Group" or the "Company", together with its subsidiaries, the "Group", stock code: 1989.HK), today announced the restoration of public float and resumption of trading of its share.

Subsequent to the close of the Offer and today, the Offeror has completed disposal of an aggregate of 203,576,000 existing Shares, representing approximately 22.54% of the total issued share capital of the Company as at today, to independent third parties not connected with the Company or any of its core connected persons and parties not acting in concert with the Offeror (the ''Disposals''). Immediately after the completion of the Disposals and as at today, 226,320,000 Shares, representing approximately 25.06% of the total issued share capital of the Company, are held by the public. Accordingly, the Company's public float has been restored to not less than 25% of the total issued share capital of the Company.

An application has been made by the Company to the Stock Exchange for the resumption of trading in the Shares on the Stock Exchange with effect from 9:00 a.m. on Monday, 12 October 2020.

About Pine Care Group Limited

Pine Care Group is the leading operator of care and attention homes for the elderly in Hong Kong, providing comprehensive residential care services. The Group owns an extensive network of care and attention homes in Hong Kong under the brand name of "Pine Care Group". The Group was listed on the Main Board of The Hong Kong Stock Exchange in February 2017, with stock code 1989.