Gelonghui, March 13, 丨 China Tianhua Chemical (00362.HK) announced that on March 13, 2024, the company (as issuer) entered into a subscription agreement with the subscriber. According to this, the subscriber agreed to subscribe and the company agreed to allocate and issue a total of 108 million subscription shares at a subscription price of HK$0.1 per subscription share.
The subscribed shares are equivalent to approximately 10.27% of the issued share capital of a company expanded through allotment and issuance of subscribed shares. The subscription price is HK$0.1 per subscription share, which is a discount of approximately 13.79% from the closing price of HK$0.116 per share reported on the Stock Exchange on March 13, 2024 (the date of the subscription agreement); the estimated net proceeds after deducting expenses from the subscription event will be approximately HK$10.3 million, which is equivalent to about HK$0.095 net price per share. Proceeds from the project are intended to be used as the Group's general working capital.