Tianji Holdings (01520) issued an announcement relating to the Company and its subscribers (Sunshine Prosperity Limited (“Subscriber A”), Eastern Pearl Capital Fund SPC-Eastern Pearl Caelus Fund SP (“Subscriber Party B”) and Eastern Pearl Capital Fund SPC-EP Neutron Market Neutral In matters relating to the conclusion of a subscription agreement by Fund SP (“Subscriber C”), with the exception of the subscription agreement with Subscriber B, all the prerequisites contained in each subscription agreement with Subscriber A and Subscriber C (as amended and supplemented by their respective appendices) have been met and fulfilled, and the corresponding completion was carried out on March 4, 2024.
According to the subscription agreement, Subscriber A conditionally agreed to subscribe for up to 168 million subscription shares, while Subscriber C conditionally agreed to subscribe for up to 4.2 million subscription shares. In view of current market conditions, a total of 28.2 million subscribed shares have been successfully allotted and issued. Of these, 24 million subscribed shares and 4.2 million subscribed shares have been issued to Subscriber A and Subscriber C respectively at the subscription price of HK$0.126 per subscription share.
Since the prerequisites contained in the subscription agreement with Subscriber B have not been met and fulfilled, the above subscription agreement has lapsed.
The total proceeds from the subscription process are approximately HK$3.55 million, while the net proceeds are approximately HK$3.45 million, which will be used as the Group's general working capital. The net price of each subscribed share is approximately HK$0.122 per subscribed share.