Gelonghui November 9th 丨Green Energy Technology Group (00979.HK) announced that on November 9, 2023, the company plans to go to no less thanPlaced by six contractorsA total of up to 220 million shares were placed.The placement price was HK$0.128 per share, a discount of about 5.88% from the closing price on November 9.
The highest number of placed shares (i.e. 220 million placed shares) is equivalent to (i) approximately 19.36% of the company's current issued share capital at the date of publication; and (ii) approximately 16.22% of the company's issued share capital after the allocation and issuance of placed shares expanded (assuming the highest number of placed shares are placed).
Assuming that the highest number of placed shares are placed under the placement agreement, the total proceeds from the placement will be up to HK$28.16 million and the maximum net proceeds from the placement will be approximately HK$27.76 million. The Company intends to use (i) approximately HK$5.55 million of the net proceeds from the placement event for the Group's business development; and (ii) approximately HK$22.21 million for the Group's working capital.