Exhibit 99.1
Long-Term Commitment to Sustainable Development and Continued Build-Out of AMTD IDEA and AMTD Digital
October 23, 2023
PARIS & NEW YORK & SINGAPORE—(BUSINESS WIRE)— AMTD IDEA Group (NYSE: AMTD; SGX: HKB) (“AMTD IDEA”), and AMTD Digital Inc. (NYSE: HKD) (“AMTD Digital”), announced today that both of organizations have received undertakings from the relevant parties that AMTD Group (the “Group”), and the executive officers of AMTD IDEA and AMTD Digital will not sell any equity securities they own in AMTD IDEA and AMTD Digital in the open market for three years effective immediately, or until October 23, 2026.
In particular, Dr. Calvin Choi (together with his holding company Infinity Power Investments Limited), has confirmed that he will not sell any of his holdings in the open market for five years effective immediately, i.e. October 23, 2028.
Dr. Feridun Hamdullahpur, Chairman of AMTD IDEA, and Chairman of Executive Management Committee of the Group, mentioned, “The Group, including its listed subsidiaries AMTD IDEA and AMTD Digital, is on the path of our multi-businesses build-out and entrepreneurship journey under the Group’s ‘IDEA’ strategy in strong and resilient ways amidst the world’s overall economic challenges and geopolitical uncertainties. The Group has well developed into a conglomerate to include a comprehensive financial services platform, a digital media, culture and entertainment platform, a hospitality and premium services platform, and a focus into talent cultivation and premium education platform. The boards of directors of the Group and both of the listed companies, together with Dr. Calvin Choi and all executive officers of the two listed companies have full confidence in the Group’s core values and we are all committed to contributing and supporting the long-term sustainability of the Group, including the continued growth and global expansion of the two listed companies without hesitation.”
Dr. Timothy Tong, Chairman of AMTD Digital, and CEO of AMTD Charity Foundation, stated, “The declaration of a long-term core holding of equity securities in AMTD IDEA and AMTD Digital by the relevant parties, particularly including Dr. Calvin Choi and all executive officers, represents a loud and clear message about our confidence in the overall strengths and the long-term values of the Group and its subsidiaries. We will stay committed and focused on delivering long-term values to our shareholders.”
About AMTD IDEA Group
AMTD IDEA Group, formerly known as AMTD International Inc. (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global capital markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles as well as hospitality and VIP services. Through our unique eco-system — the “AMTD SpiderNet” — AMTD IDEA Group is uniquely positioned as an active superconnector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on Twitter at @AMTDGroup.
