WAC HOLDINGS (08619) announced that on January 19, 2024, the company and...
According to Zhitong Finance App, WAC HOLDINGS (08619) announced that on January 19, 2024, after fair negotiations, the company and the placement agent entered into a second supplementary agreement to the placement agreement (supplementary agreement) dated January 18, 2024 (the first supplementary agreement)). The contracting parties agreed to revise the placement price from HK$0.1871 per placed share to HK$0.2521 per placed share (new offering price). The number of shares to be placed has also been revised from 108.8 million shares to 80 million shares (newly placed shares) in view of the company's intention to maintain the capital to be raised by the company in accordance with the placement matters.
The new placement price is approximately 19.97% off the closing price of HK$0.3150 per share as reported on the Stock Exchange on January 19, 2023 (the date of the second supplementary agreement).
The newly placed shares are equivalent to 6.94% of the total number of shares issued at the date of this announcement; and approximately 6.49% of the total number of issued shares after being expanded after all allotments and issuance of new placed shares (assuming there is no change in the issued share capital of the Company between the date of this announcement and the date of completion). The total face value of the maximum number of newly placed shares under the placement will be HK$800,000.
Due to the revision of the placement price and placement of shares in accordance with the Second Supplementary Agreement, the total proceeds from the placement will be approximately HK$2017 million; the net proceeds are expected to be approximately HK$1992 million; and the net placement price is expected to be approximately HK$0.2490 per newly placed share. Approximately 60% of the net proceeds will be used to develop new businesses in various profitable industries, including but not limited to catering related businesses, catering, entertainment and medical and aesthetic businesses; and approximately 40% of the net proceeds will be used as general working capital.
The company has applied to the Stock Exchange to resume share trading at 9:00 a.m. on January 22, 2024.