Gleneagles Group (00789.HK) announced on September 9, 2024, that on September 9, 2024, the company entered into a placement agreement with the placement agent. According to this, the company conditionally agreed to place up to 0.22 billion shares to no less than six undertakers through the placement agent. The placement price for each share is HK$0.270. Such undertakers and their ultimate beneficial owners are independent third parties.
The maximum number of shares placed under the placement matters is equivalent to approximately 16.62% of the company's expanded issued share capital of 1,323,968,128 shares through the placement. It is assumed that the company's share capital structure will not change any other before completion. The placement price of HK$0.270 is approximately 14.29% off of the closing price of HK$0.315 per share as reported on the date of the placement agreement; the maximum net proceeds from the placement transaction (after deducting the commission, professional fees and other related costs and expenses due to the placement) will be approximately HK$58.9 million.
