Kingway Brewery Holdings (HKG:0124) announced that it noted the increase in the price and trading volume of its shares today.

The company said that its has begun discussions with the independent third parties principally engaged in the manufacture and distribution of beer products, as mentioned last month.

The company also emphasized that the strategic review is only concerned with its business and assets, and does not involve its shares. The company has made enquiry with GDH Limited, its controlling shareholder, and GDH has confirmed its intention to maintain its current level of shareholding in the company. The company may or may not proceed with any actions or transactions referred to in the announcement, subject to the result of the strategic review. Investors are advised to exercise extreme caution when dealing in the securities of the company.

Kingway Brewery announced last month that as part of the strategic review process, it was considering the efficiency and potential of the group's business and assets and planned to commence discussions with certain independent third parties principally engaged in the manufacture and distribution of beer products, and it was expected that such third parties would be invited to submit proposals and indicative offers for possible acquisition of certain of the group's brewery business and assets, as well as proposals for production facility leasing arrangements with the group, with a view to enabling the company to evaluate such business and assets. The company would also require that the proposals to be submitted should include measures to maintain stability of the workforce at such entities to be transferred.