MINDTELL TECH (08611) announced that as the prerequisites for the placing Agreement had not been reached on or before 05:00 on 18 July 2023, the placing Agreement had expired and the placing would not take place. All obligations and obligations of the placing Agent and the Company under the placing Agreement shall cease and terminate immediately, and neither the Company nor the placing Agent shall have any claim against the other party, except for any previous breach of the placing Agreement, without prejudice to the rights and obligations of the Company and the placing Agent respectively.
The Board is of the view that the invalidation of the placing of new shares under the General mandate has no significant adverse impact on the overall business operation and financial position of the company.