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悟喜生活(08148)拟实施资本重组后 “1供2”供股最多净筹2874万港元

Wu Xi Life (08148) plans to raise up to HK$28.74 million in a “1 for 2” share offering after the capital restructuring

Zhitong Finance ·  Feb 13 20:16

Wu Xi Life (08148) announced that the board of directors recommended implementing capital restructuring as follows:

Zhitong Finance App News, Wuxi Life (08148) announced that the board of directors recommended implementing capital restructuring in the following manner:

(i) Share consolidation, whereby the issued and unissued existing shares with a face value of HK$0.04 per 10 shares are combined into 1 consolidated share with a face value of HK$0.4 per share;

(ii) Capital reduction, according to which any piecemeal consolidated shares in the company's issued share capital resulting from the share merger will be cancelled, and the face value of each issued consolidated share will be reduced from HK$0.4 to HK$0.01 per share by cancelling the paid-up share capital of HK$0.39 per issued consolidated share;

(iii) A share spin-off, whereby the statutory but unissued consolidated shares with a face value of HK$0.4 per share were split into 40 adjusted shares with a face value of HK$0.01 per share, immediately following the capital reduction; and

(iv) Receipts from capital reductions will be used to offset cumulative losses. After settling the accumulated losses, the balance (if any) will be transferred to the company's distributable reserve account and may be used by the company in any manner permitted by all applicable laws and articles of association and as the board of directors deems appropriate.

On the date of this announcement, the existing shares were traded on the Stock Exchange with 20,000 existing shares per trading unit. After the capital restructuring takes effect, adjusted shares will continue to be traded with 20,000 adjusted shares per trading unit.

In addition, the company proposes that, after the capital restructuring comes into effect, implement the share offering at a subscription price of HK$0.12 per share on the basis that 2 shares are issued for each adjusted share held on the record date, and raise up to about HK$30.54 million (before expenses) by issuing a maximum of approximately 254.5 million shares offered to eligible shareholders (see assumption below) (assuming that the company's issued share capital has not changed on or before the record date, and all eligible shares allocated to its respective shareholders). The net proceeds from the share offering (after deducting estimated expenses) are expected to be approximately HK$28.74 million, of which HK$5 million will be used for further development and optimization of advertising e-commerce platforms and mobile applications, HK$15 million will be used for marketing and user acquisition strategies, HK$5 million will be used for operating costs associated with the platform, including server hosting, maintenance and customer support, and HK$2 million will be used to establish strategic partnerships and business development. The balance will be used as the Group's general working capital.

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