Madison Holdings (08057) announced that on October 3, 2023 (after trading hours on the Stock Exchange), the company (as issuer) entered into a second share option agreement with SRA (as subscriber), pursuant to which the company has conditionally agreed to grant options to SRA at a nominal consideration of HK $1.00, exercisable during the option period. SRA has the right to require the Company to allot and issue up to 85.9223 million share option shares at the option price of HK $1.03 per share option in accordance with the terms and conditions of the second share option Agreement.
After the exercise of the option by SRA, the total option price of the relevant share option shares will be paid by SRA in cash or by offsetting the same amount of the principal amount of the loan on an equal basis.