Gelonghui, April 22, 丨 Guangshang Culture Holdings (08082.HK) announced that on April 22, 2024, the company and the subscriber entered into a subscription agreement. According to this, the subscriber has conditionally agreed to subscribe and the company has agreed to allocate and issue a total of 419 million shares at a subscription price of HK$0.036 per subscribed share. The subscribed shares will be allotted and issued in accordance with a general mandate.
The subscribed shares are equivalent to approximately 16.66% of the company's total issued share capital after the issuance of subscribed shares was expanded. The subscription price is approximately 18.18% off per share from the closing price of HK$0.044 per share as reported on the Stock Exchange on April 22, 2024 (the date of the subscription agreement); the total proceeds and net proceeds from the subscription will be approximately HK$1.58 million and HK$14.96 million, respectively, to be used for the Group's media and entertainment business development (including concert planning).