CCIAM Future En (00145) announced that on July 9, 2024, the company entered into a placement agreement with the placement agent. The company has conditionally agreed to distribute up to 33.908 million shares at a placement price of HKD 0.15 per share to no less than six placees during the placement period based on their best efforts through the placement agent.
Assuming that there is no change in the issued share capital of the company from the date of the placement agreement to the completion date, the placement shares will account for approximately 16.67% of the total issued share capital after the allocation and expansion of the issuance and placement shares. The placement price of HKD 0.15 per share is the same as the closing price of the stock on July 9th reported on the Stock Exchange.
Assuming that the placement agent successfully places all placement shares, the net proceeds of the placement (after deducting placement commissions and other related expenses) will be approximately HKD 4.9 million, which will be used to develop electric vehicle charging business in Hong Kong.