Summary by Moomoo AI
Capital Territory Gold Control signed a distribution agreement on 25 January 2024 with Cheung Lee Securities Limited and Regent Hong Kong Securities Limited, which plans to distribute up to 1.44 million shares at a price of HK$0.65 per share. The divestment will increase the Company's share capital by approximately 16.65% and is expected to raise net proceeds of approximately HK$92.5 million for future investment opportunities, repayment of borrowings and general working capital. Subscription is expected to be completed on the third business day after the relevant conditions are met, but if conditions are not met by 19 February 2024, the distribution agreement will be terminated. The shares will be distributed to no less than six independent professional investors, none of whom will be a major shareholder. This distribution is not subject to shareholder approval and has been applied to the exchange for approval of the listing and trading of the allotted shares.