Jimu Group (08187) announced that due to market conditions, on July 10, 2024, the company entered into a termination agreement (the Termination Agreement) with the placement agent to terminate the placement agreement (as amended and supplemented by the first and second supplemental agreements).
According to the Termination Agreement, the rights, obligations and liabilities of the contracting parties will be terminated and concluded, and neither party shall make any claim with respect to the placement matter, except for any obligation previously breached under the placement agreement (as amended and supplemented by the first and second supplemental agreements).
The Board of Directors believes that the termination will not have any significant adverse impact on the Group's existing business, operations and financial condition. Considering the Group's future development and market conditions, the company may consider further fundraising activities. The company will notify the market in a timely manner in accordance with the GEM Listing Rules by way of announcement.