Mr. Mark Chan, Chairman of Wisdomcome Group, satisfied the Offer to acquire Easy Repay
- Written by: Telegraph Magazine
HONG KONG SAR - Media OutReach - 5 July 2022 - Best Richest Management Company Limited, a direct wholly and beneficially owned company of Mr. Mark Chan, Chairman of Wisdomcome Group (“Wisdomcome” or “the Group”), has received valid acceptances in approximately 16.00% of the entire issued share capital of Easy Repay Finance & Investment Limited (“Easy Repay”, stock code: 8079.HK).
Together with the 34.24% equity interest acquired earlier, Mr. Mark Chan currently holds approximately 50.24% of the of the total issued share capital of the Company. Accordingly, the condition of the Offer has been satisfied and the Offer has become unconditional.Easy Repay is principally engaged in the money lending business, retail and wholesale business. It has actively participated in money lending business for eight years and has built up a wide solid client base. It operates four “People’s Market” retail shops which are located in Wanchai, Lai Chi Kok, Tai Po and Kowloon Bay and an online business for the sales of grocery products. Wisdomcome has extensive experience in operating retail businesses in health food, pharmaceutical products and pet food and supplies with substantial retail network in Hong Kong. The acquisition is expected to create synergetic effect which strengthens the Group’s retail businesses in Hong Kong.
The issuer is solely responsible for the content of this announcement.
About Wisdomcome Group
Wisdomcome Group was founded by Mr. Mark Chan in Hong Kong in 2003. Its brands include Wisdomcome Real Estate, Wisdomcome Investment, and Petmacy, and its businesses include but are not limited to: 1) pet product research, manufacturing and distribution; 2) health care product research, manufacturing and distribution; and 3) property investment. Another well-known brand founded by Mr. Mark Chan is Royal Medic, which is a health care brand listed in Hong Kong with market capitalization at one stage exceeding HK$5.8 billion. He retired from this company in 2020 and has since ventured into the pet category and other businesses and investments.
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