Huicai Financial Investment (08018) announced that in order to meet the Group's future expansion and growth, the board of directors proposed the addition of 1 additional 1...
According to the Zhitong Finance App, Huicai Financial Investment (08018) announced that in order to match the Group's future expansion and growth, the board of directors proposed increasing the company's current authorized share capital from HK$10 million (divided into 200 million shares with a face value of HK$0.05 per share) to HK$100 million (divided into 2 billion shares with a face value of HK$0.05 per share) through the addition of an additional 1.8 billion unissued shares. After the shareholders pass an ordinary resolution approving the increase in authorized share capital at the special shareholders' meeting, the increase in authorized share capital will take effect on the date of the special shareholders' meeting.
After the increase in authorized share capital comes into effect and is approved by independent shareholders at the special shareholders' meeting, the company proposes to issue approximately 378 million shares at a subscription price of HK$0.074 per share on the subscription price of HK$0.074 per share. The subscription price is discounted by about 28.16% from the closing price of the shares reported on the Stock Exchange on the last trading day by about HK$0.103 per share, thereby raising an amount of approximately HK$27.98 million (before deducting expenses). The offering of shares is for eligible shareholders only, and will not be offered to unqualified shareholders.
The offering of shares is not underwritten and is only available for subscription by eligible shareholders, and will not be presented to unqualified shareholders. To be eligible for a share offering, shareholders must register as shareholders of the company at the end of business hours on the record date and are not ineligible shareholders.
On December 5, 2023, the company entered into a placement agreement with the placement agent, according to which, the placement agent conditionally agreed to induce the undertaker to subscribe for unsubscribed shares and unsold shares by unqualified shareholders as part of the compensation arrangement according to best endeavour criteria.