TOPSTANDARDCORP (08510) announced that since the prerequisites for the placement agreement were not reached by November 22, 2023, the placement agreement has expired, and the placement will not proceed. According to the placement agreement, all obligations and liabilities of the placement agent and the company under the agreement are terminated and terminated, and the parties to the agreement are not allowed to make any claims against the other party.
The directors considered that the termination of the placement agreement had no significant adverse impact on the Group's current business operations and financial position.