Summary by Moomoo AI
RENDE RESOURCES HOLDINGS LIMITED (STOCK CODE: 8125) ANNOUNCES THAT A SPECIAL GENERAL MEETING WILL BE HELD ON MARCH 6, 2024 TO CONSIDER AND APPROVE THE SPECIAL AUTHORIZATION TO DISTRIBUTE THE NEW SHARES. The Company has entered into a distribution agreement with Hang Yu Securities Limited to sell up to 37,627,200 new shares at a price of HK$0.201 per share. The offering price is at a discount from the market price of the Company's shares prior to the date of the distribution agreement. Completion of the distribution is subject to the approval of the Extraordinary General Meeting and the approval of the GEM Listing Committee of the Exchange to be made after the IPO of the shares. The company said that the net proceeds from the sale are expected to be approximately HK$7,400,000 and will mainly be used for working capital and general operating capital in the engineering business. The Board considers that the divestiture and its terms are fair and reasonable and in the overall interests of the Company and its shareholders.
