Metaspacex Limited (stock code: 01796) confirmed that Offeror Chan Yuen Tung has obtained the Hong Kong Takeovers and Mergers Panel’s consent under Rule 28.1 of the Takeovers Code, satisfying the pre-condition for his pre-conditional voluntary cash partial offer.

The cleared consent, received on 5 May 2026, allows Rainbow Capital (HK) Limited—acting for and on behalf of the Offeror—to proceed with the plan to acquire up to 15.80 million Metaspacex shares not already held by Chan Yuen Tung or his concert parties.

An offer document detailing the terms and expected timetable must be dispatched to qualifying shareholders within 21 days of the original 27 April 2026 announcement, unless an extension is granted by the Executive. Preparations for this document are under way, with further announcements to follow.

The partial offer remains subject to a separate condition; if unmet, the offer will lapse. Shareholders and potential investors are advised to exercise caution when dealing in Metaspacex securities.