Metaspacex Limited announced that the conditional voluntary cash partial offer launched by Chan Yuen Tung—via Rainbow Capital (HK) Limited—to acquire 15.80 million shares has lapsed after failing to secure the required level of acceptances by the first closing date on 3 July 2026.

The offer, priced at HK$2.64 per share, sought 15.80 million shares, equivalent to approximately 3.30% of Metaspacex’s issued share capital. By 4:00 p.m. on the first closing date, valid acceptances were received for just 152,000 shares—about 0.15 million shares or 0.0317% of the company’s issued shares—well below the minimum threshold stipulated for the offer to become unconditional.

With the acceptance condition unmet, the partial offer automatically lapsed on 3 July 2026. Under Rules 31.1 and 31.2 of the Hong Kong Takeovers Code, neither Chan Yuen Tung nor parties acting in concert with him may, without the Executive’s consent, announce another offer for Metaspacex or acquire additional voting rights that would trigger a mandatory offer for a period of 12 months from the lapse date.

Share certificates and related documents lodged by accepting shareholders will be returned by ordinary post at their own risk no later than 14 July 2026.

Chan Yuen Tung has accepted full responsibility for the accuracy of the information contained in the announcement.