IT was third time lucky for the Lau brothers yesterday as they won approval from minority shareholders for a proposal to effectively privatise Evergo International Holdings - the flagship of their business empire.
With the proposal endorsed, the listings of Evergo shares and warrants on the stock exchange will be withdrawn.
There is also a merger plan where Evergo will transfer all its assets to its subsidiary Chinese Estates, and Chinese Estates will assume all Evergo's liabilities.
Evergo will become a wholly owned subsidiary of Chinese Estates, with Evergo shareholders becoming Chinese Estates shareholders.
Warrants of Evergo will be cancelled and Evergo warrant-holders will become Chinese Estates shareholders.
''The merger will simplify our group structure and reduce conflicts between the two companies,'' said Joseph Lau Luen-hung, chairman of both companies.