Vision Int Hldg (08107.HK) announced that the proposed discount for the maximum of 8.55 million shares, which is about 7.28%, will not be executed due to the failure to meet the precondition of the subscription agreement before July 16, 2024, and the subscription agreement has become ineffective and the subscription will not continue. According to the subscription agreement, all rights, obligations, and liabilities of both parties to the subscription agreement will be terminated and ended. Neither party to the subscription agreement shall make any claims against the other, except for any prior violations under the subscription agreement prior to termination.
The directors believe that the termination of the subscription agreement will not have a significant adverse effect on the group's existing business operations and financial condition.