Summary by Moomoo AI
Global Strategic Group Limited (the “Company”) announced on March 5, 2024 (after the exchange trading period) an agreement with its distribution agent, Fortune Securities Financial Limited, on condition that they agree to sell a maximum of 91,172,000 new shares at a distribution price through a distribution agent to not less than six independent third parties. for HK$0.068 per share. The distribution is equivalent to 20% of the Company's existing issued shares and approximately 16.67% after the expansion. Upon completion of the divestiture, the net proceeds of approximately HK$5.6 million are expected to be used to supplement working capital and pay down bonds. In addition, the Board of Directors is considering the proposed share consolidation to improve the low trading price of the shares since January 2024. Details of the consolidated shares will be announced in due course. Dividends and share mergers are subject to completion after the relevant conditions are met. Shareholders and potential investors should exercise caution.