Dragon King Group (08493) announced that on January 30, 2024 (after the trading period), the placement agent entered into a placement agreement with the company. According to this, the company conditionally agreed to use the placement agent to place up to 34.56 million shares to the consignee on a best-effort basis. The placement price of HK$0.257 is approximately 9.36% of the shares at the closing price of HK$0.235 per share as reported on the date of the placement agreement.
As of the date of this announcement, the company had 207 million issued shares. A maximum of 35.56 million shares placed is equivalent to approximately 16.67% of the total number of shares issued at the date of this announcement; and approximately 14.29% of the total number of issued shares expanded through the allocation and issuance of 35.56 million placed shares (assuming that there are no other changes in the company's issued share capital between the date of this announcement and the date of completion).