Summary by Moomoo AI
Heritage Education Group Limited announced on 8 April 2024 that it has entered into a second supplemental distribution agreement with the distribution agent, revising the distribution price of the new shares from HK$1.30 per share to HK$1.32 per share. The adjusted distribution price was a decrease of approximately 19.51% and 19.41% from the current closing price of HK$1.64 and the average closing price of HK$1.638 on the previous five trading days. The distribution involves 38,462,000 shares and is expected to raise adjusted proceeds of approximately HK$50.8 million and net proceeds of HK$50.2 million. Proceeds will be used for the potential expansion of the Group, including its financial and investment education businesses, as well as working capital and general corporate purposes. The Board of Directors confirms that the distribution terms are fair and reasonable and in the overall interests of the company and shareholders. The announcement is made by Chairman and Executive Director Mr. Yuan Yusheng and is jointly held by the members of the Board of Directors to ensure that the information is accurate.