TEAMWAY INTL GP (01239) issued an announcement. After the share capital restructuring comes into effect, the board of directors proposed to raise up to HK$15.78 million (before expenses) through the share offering. The method is to issue 197 million shares at a subscription price of HK$0.08 per share of the offered share based on the basis that the eligible shareholders are issued 1 share of each adjusted share held on the record date. The share offering is for eligible shareholders only, and unqualified shareholders are not allowed to participate.
Assuming that the total issued share capital of the company remains unchanged on or before the record date and the share offering is accepted, the maximum net proceeds from the share offering (after deducting estimated expenses) are estimated to be approximately HK$15.23 million (equivalent to the net price of each share offered share of approximately HK$0.08).