China Hong Kong Energy (00931) announced that on March 7, 2024, the company signed a loan capitalization agreement with the chairman of the board of directors, executive director and Dr. Jian Zhijian, the main shareholder. The company will issue a total of 697.7 million capitalized shares to subscribers at a capitalized price of HK$0.43 per capitalized share, which is equivalent to about 10.45% of the total number of expanded issued shares.
All capitalized share prices payable by the subscribers will be settled by capitalizing and offsetting the repayment amount of HK$300 million upon completion.