Summary by Moomoo AI
CBK Holdings Limited (CBK Holdings Limited) announced on March 8, 2024 that it has entered into a supplemental agreement with the distribution agent to the previously announced distribution agreement. The supplemental agreement extends the closing date for the distribution of shares from 15 March 2024 to 27 March 2024 and adjusts the distribution price from HK$1.09 to HK$0.55. This distribution involves a maximum of 18,661,918 shares, which, if all of them are successfully distributed, is expected to generate a maximum of approximately HK$10.26 million in proceeds, net of related costs of approximately HK$9.93 million, which will be used for the Group's general operating capital. The Board considers the adjusted distribution price and terms to be fair and reasonable and in the overall best interests of the Company and its shareholders. The distribution price was a discount of approximately 3.51% and 18.40% from the closing price and the average closing price of the shares prior to the date of the Supplemental Agreement.