AMTD IDEA Group (“AMTD IDEA Group”) (NYSE: AMTD; SGX:
HKB), a subsidiary of AMTD Group Company Limited (“AMTD
Group”) and a leading platform for comprehensive financial
services and digital solutions, and AMTD Digital Inc. (“AMTD
Digital”) (NYSE: HKD), a controlled and consolidated subsidiary
of AMTD IDEA Group and a comprehensive one-stop digital solutions
platforms in Asia, jointly announced that AMTD IDEA Group had
entered into certain agreements (the “AMTD Assets
Agreements”) with AMTD Group and AMTD Digital. Pursuant to the
terms of the AMTD Assets Agreements:
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- AMTD Group will inject into AMTD IDEA Group 100% of the equity
interest in AMTD Assets Group (“AMTD Assets”), which
represents the letter “A” of AMTD Group’s “IDEA” strategy, and
holds a global portfolio of premium whole building properties, with
a fair market value of approximately US$500 million. After
deducting the outstanding liabilities associated with the
properties, the net purchase consideration amounted to US$268
million, which will be settled by the issuance of 30,875,576 newly
issued Class B ordinary shares of AMTD IDEA Group at US$8.68 per
share (equivalent to a value of US$8.68 per American depositary
share of AMTD IDEA Group at a conversion ratio of each American
depositary share of AMTD IDEA Group representing one ordinary share
of AMTD IDEA Group), and
- Following the completion of the above transaction, AMTD IDEA
Group will inject AMTD Assets into AMTD Digital at the same
valuation in return for 515,385 newly issued Class B ordinary
shares of AMTD Digital at US$520 per share (equivalent to a value
of US$208 per American depositary share of AMTD Digital at a
conversion ratio of every five American depositary shares of AMTD
Digital representing two ordinary shares of AMTD Digital).
The transactions contemplated under each of the AMTD Assets
Agreements are subject to certain closing conditions and are
expected to close in September 2022. Upon the completion of the
foregoing transactions, AMTD Digital will own 100% of the equity
interest in AMTD Assets, and AMTD IDEA Group will further increase
its ownership interest in AMTD Digital to 87.64% of and continue to
consolidate AMTD Digital.
AMTD Assets is the real estate arm of AMTD Group, focusing on
and specialising in hospitality and lifestyle concepts globally.
AMTD Assets offers a customer-centric VIP members approach for its
business portfolio in the key areas comprising stylish hotels and
serviced apartments, property rental, food and beverage, and club
membership services across major cities.
The Board of Directors and Audit Committees of each of AMTD IDEA
Group and AMTD Digital have unanimously approved the AMTD Assets
Agreements to which it is a party, and the transactions
contemplated thereunder.
In addition, AMTD IDEA Group and AMTD Digital understand that in
the next two years, (i) AMTD Group, Dr. Calvin Choi, the founder
and chairman of AMTD Group (together with his holding company
Infinity Power Investments Limited), and the executive officers of
AMTD IDEA Group have undertaken that they will not sell any shares
they own in AMTD IDEA Group in the open market, and (ii) AMTD
Group, Dr. Calvin Choi (together with his holding company Infinity
Power Investments Limited), AMTD IDEA Group and the executive
officers of AMTD Digital have also undertaken that they will not
sell any shares they own in AMTD Digital in the open market.
Dr. Feridun Hamdullahpur, Chairman of the Board of Directors of
AMTD IDEA Group, stated that, “The injection of such premium
properties into AMTD Digital provides a solid foundation to support
the future innovations and continuous growth of AMTD Digital in a
new era. The premium assets portfolio also serves as the community
pivot for our clients, business partners and ecosystem members.
Furthermore, it provides a bridge to the Entertainment and
Lifestyle District that we are building in the Metaverse
establishing our presence as “AMTD SpiderNet World”. It is exciting
to recognize that this will become one of the best and most
promising Metaverse, including but not limited to the well-known
“The Sandbox” through the opening of AMTD x L’Officiel land, which
will become the Metaverse headquarters for entertainment and
creative content attached to our creative production and
entertainment business segment of the AMTD Digital Media &
Entertainment Group.
I should further emphasize the trust and confidence in the
long-term vision and strategy of AMTD IDEA Group and AMTD Digital.
The voluntary two-year lock-up undertaking is a strong
demonstration of the key shareholders’ commitment to the long-term
development of the two listed companies.”
Dr. Timothy Tong, Chairman of the Board of the Directors of AMTD
Digital, indicated: “We are committed to promoting contemporary art
and cultural activities, producing international top-tier films and
digital music contents, and generating supreme connectivity amongst
local communities linking them with our Entertainment and Lifestyle
District in the Metaverse and physical hotels in our premium assets
portfolio: Dao by Dorsett AMTD Singapore, iclub AMTD Sheung Wan in
Hong Kong, and AMTD Versante in Canada. Our one-stop digital
solutions platform will embrace and provide a meaningful, impactful
platform combining lifestyle, social issues and fashion trends of
Generation Z and beyond.”
Mr. Mark Lo, CEO of AMTD Digital, mentioned, “Our platform aims
to extend our capability to allow for tokenizing of real estate
assets utilizing blockchain technology. We intend to provide
clients with direct access to real estate investments by removing
intermediaries, reducing cost of transactions, and stepping up the
efficiency of overall processes. We are committed to building
innovative approaches in traditional sectors through digital tools
and technologies.”
Hotel Brand
iclub AMTD
Dao by Dorsett
AMTD Versante
Sheung Wan
AMTD Singapore
Location
Sheung Wan, Hong Kong SAR
Shenton Way, Singapore
Vancouver, Canada
Guestrooms & Suites
98
268
100
Storey
32
26
14
About AMTD IDEA Group
AMTD IDEA Group, formerly known as AMTD International Inc.
(NYSE: AMTD; SGX: HKB), represents a premier Asian financial
institution and digital solutions group connecting companies and
investors from Asia, including China and Hong Kong as well as the
ASEAN markets with global capital markets. Its comprehensive
one-stop financial services plus digital solutions platform
addresses different clients’ diverse and inter-connected financial
needs and digital requirements across all phases of their life
cycles. Leveraging its deep roots in Asia and its unique ecosystem
— the “AMTD SpiderNet” — AMTD IDEA Group is uniquely positioned as
an active super-connector between clients, business partners,
investee companies, and investors, connecting the East and the
West. For more information, please visit www.amtdinc.com or follow
us on Twitter at “@AMTDGroup.” For AMTD IDEA Group’s announcements,
please visit https://ir.amtdinc.com/news.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital
solutions platform in Asia. Its one-stop digital solutions platform
operates four main business lines including digital financial
services, SpiderNet ecosystem solutions, digital media, content and
marketing, as well as digital investments. It is the fusion reactor
at the core of the AMTD SpiderNet ecosystem and empowers and
integrates the various digital businesses within its ecosystem. For
AMTD Digital’s announcements, please visit
https://ir.amtdigital.net/investor-news.
About AMTD Assets Group
AMTD Assets Group is the real estate arm of AMTD Group, focusing
and specialising in hospitality and lifestyle concepts globally.
AMTD Assets Group offers a customer-centric VIP members approach
for its business portfolio in the key areas comprising stylish
hotels and serviced apartments, property rental, food and beverage,
and club membership services across major cities globally.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking” statements pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about the beliefs, plans, and expectations of
AMTD IDEA Group and AMTD Digital Inc., are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. Further information regarding these and other risks
is included in the filings of AMTD IDEA Group and AMTD Digital Inc.
with the SEC. All information provided in this press release is as
of the date of this press release, and neither AMTD IDEA Group nor
AMTD Digital Inc. undertakes any obligation to update any
forward-looking statement, except as required under applicable
law.
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For AMTD IDEA Group: IR Office AMTD IDEA Group TEL: +852
3163-3389 EMAIL: ir@amtdinc.com
For AMTD Digital Inc.: IR Office AMTD Digital Inc. TEL:
+852 3163-3298 EMAIL: ir@amtdigital.com
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