OKH

OKH: Proposed distribution-in-specie of IT business by way of capital reduction Property development and construction firm, OKH Global intends to fully divest its non-core IT businesses in the PRC. Through a restructuring, OKH will inject the IT businesses into a Holding Company (HoldCo), and undertake a 1-for-1 distribution-in-specie of its entire shareholding in HoldCo via a capital reduction. OKH shareholders who do not wish to own the (unlisted) HoldCo shares may fill out the relevant form, requesting HoldCo to repurchase their HoldCo shares for $0.0487 each (1x HoldCo P/NTA). Effectively, OKH shareholders stand to receive a cash return of $0.0487 per OKH share. Such a move allows OKH to dispose of the IT business, which has low return on equity, with minimal impact to the firm’s financial performance. Timetable: 19 Jun - OKH shares to trade ‘ex-entitlement’ 27 Jun – Despatch of Buyback form to entitled shareholders 27 Jul – Closing date for submission of Buyback form by shareholders to HoldCo