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We acted for Mr. Joseph Lau, Luen-hung in the distribution of all the 74.99% shares in Chinese Estates Holdings Limited indirectly held under a discretionary trust founded by him. Chinese Estates is company listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock Code: 127) with market capitalisation of over HK$20 billion. After the distribution on 1 March 2017, Mr. Lau Ming Wai (the son of Mr. Joseph Lau) and Ms Chan Hoi Wan (the spouse of Mr. Joseph Lau), as trustee for her minor children Lau Chung-hok and Lau, Sau-wah, indirectly hold shares representing approximately 24.97% and 50.02% of the total issued share capital of Chinese Estates respectively.

Our firm’s Corporate and Commercial team cooperated closely with our Trust team to deal with the complex commercial transaction including obtaining waiver from the Securities and Futures Commission for general offer obligations under the Takeovers Code, waiver from the Stock Exchange regarding directors’ securities dealings during black out period and consent from professional trustee, relocation of shares etc.

Our Trust team was led by our senior partner Mr. Peter Sit and our Corporate & Commercial team was led by our partner Mr. Joseph Wong. The other members of the teams include our associate Ms. Vivian Ng and trainee solicitors Ms. Veronica Wong and Mr. Kin Chu.