PACIFIC LEGEND (08547) announced that on January 17, 2024 (after the trading session of the Stock Exchange), the company entered into a placement agreement with the placement agent. According to this, the company has agreed to use the placement agent to place up to 6 undertakers (they and their ultimate beneficial owners must be independent third parties) of up to 38.16 million shares at a price of HK$0.21 per share over the closing price of the shares as reported on the date of the placement agreement at HK$0.198 per share 6%
Assuming that all 38.16 million shares of the placed shares are fully subscribed, the total amount of proceeds from the placement will be approximately HK$7.98 million after the placement is completed, and the estimated total net proceeds will be approximately HK$7.8 million (after deducting commissions and other expenses relating to the placement), which is equivalent to a net issue price of approximately HK$0.205 per placed share. The directors intend to use the estimated net proceeds from the placement as the general working capital of the Group.