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RTNominal up19.220 +0.300 (+1.586%)

19/10/2021 10:48

Geely Auto (00175) to buy 220 million shares of ZEEKR

[ET Net News Agency, 19 October 2021] Geely Automobile Holdings Limited (00175) said
the company and Geely Group entered into the framework agreement pursuant to which the
company proposed to acquire from Geely Group 220,000,000 shares of ZEEKR, representing
approximately 10% of the issued shares of ZEEKR as at the date of the framework agreement
(assuming conversion in full of the outstanding Series Pre-A Preferred Shares), for a
consideration to be agreed between the company and Geely Group. The consideration will be
determined with reference to the post-money valuation of ZEEKR in the Pre-A Round
Financing. The company will also engage a third party independent valuer for the valuation
The company intends to satisfy the consideration by a combination of cash and
consideration shares to be issued by the company comprising 196,410,000 shares,
representing approximately 2% of the issued share capital of the company as at the date of
the framework agreement, to be issued based on an issue price of HK$23.34 per share, being
the average closing price per share for the last five trading days including the date of
the framework agreement. The company and Geely Group will enter into a definitive
agreement for the potential transaction upon finalization of all the relevant terms and
conditions. (RC)

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