Metaspacex Limited (Metaspacex) released a Rule 3.8 Takeovers Code announcement on 11 May 2026, detailing disclosure obligations, governance measures and the status of its share trading halt.

Metaspacex noted earlier disclosures dated 14 April 2026 regarding a change in the controlling shareholder’s stake and subsequent Offeror announcements on 27 April and 5 May 2026 by Chan Yuen Tung, who has proposed a pre-conditional voluntary cash partial offer for the company’s shares.

Share capital currently comprises 480.00 million ordinary shares, and the company confirmed it has no outstanding options, derivatives, warrants or other convertible securities.

Associates of both the Offeror and Metaspacex — including any party controlling 5 % or more of the company’s shares — are reminded of their duty to report dealings in Metaspacex securities in line with Rule 22 of the Takeovers Code.

To assess the fairness of the partial offer for independent shareholders, the board has established an Independent Board Committee composed entirely of independent non-executive directors: Mr Cheng Pak Lam, Ms Ya Li and Ms Chen Yan. An independent financial adviser will be appointed shortly; its advice, alongside the committee’s recommendation, will be included in an offeree board circular to be dispatched within 14 days of the Offer Document in accordance with Rule 8.4 of the Takeovers Code.

Trading in Metaspacex shares has been suspended since 9:00 a.m. on 10 April 2026 following the controlling shareholder’s share disposal. The halt will continue until a further announcement containing inside information is released; management stated that arrangements for resumption will be made as soon as practicable.

The company cautioned that the proposed partial offer remains subject to conditions and may lapse if those conditions are not satisfied. Shareholders and potential investors are advised to exercise prudence and consult professional advisers when dealing in Metaspacex securities.