Gelonghui May 23 丨 Hengtai (00197.HK) clothp2epolygonAll conditions set out in the rights issue prospectus have been met and the rights issue has become unconditional on Thursday, May 23, 2024.
As of 4:00 pm on Thursday, May 16, 2024, the deadline for accepting and paying rights shares and applying for additional rights shares and paying rights shares:
(i)A total of 8 valid acceptances of provisional allotments of rights shares under provisional quota notices have been received, involving a total of 32p2epolygon,727,973 rights shares, representing approximately 62.30% of the maximum number of 52,535,151 rights shares that can be issued under the rights issue; and
(ii)A total of 9 valid applications have been received for additional rights shares under the additional application form, involving a total of 21,816,086 rights shares, representing approximately 41.53% of the maximum number of 52,535,151 rights shares that can be issued under the rights issue.
In total, a total of 17 valid acceptances and applications have been received, involving a total of 54,544,059 rights shares, representing approximately 103.82% of the maximum number of 52,535,151 rights shares that can be issued under the rights issue. As a result, the rights issue was oversubscribed by 2,008,908 rights shares, representing approximately 3.82% of the maximum number of 52,535,151 rights shares that could be issued under the rights issue.
The total proceeds raised from the rights issue were approximately HK$18.4 million and after deducting estimated expenses related to the rights issue, the net proceeds from the rights issue are estimated to be approximately HK$17.4 million.
In view of the fact that the provisional allotment of rights shares under the above-mentioned provisional quota notice has been effectively accepted, a total of 19,807,178 rights shares are available for additional applications under the additional application form, accounting for approximately 37.70% of the total number of rights shares. As the number of rights shares available for additional applications is insufficient to satisfy all valid applications for additional rights shares under the additional application form, the allotment of 19,807,178 rights shares to eligible shareholders applying for additional rights shares is made on a fair and equitable basis and is made on a pro-rata basis, as far as practicable, with reference to the number of additional rights shares applied for in each application. The Company has not made reference to the rights shares subscribed for pursuant to the provisional quota notice application or the number of existing shares held by eligible shareholders. In addition, the company does not give priority to applications for replenishing broken shares into complete trading units.
In this regard, the Board of Directors has resolved to allot and issue 19,807,178 rights shares to persons applying for additional rights shares on a pro rata basis of approximately 90.79% based on the total number of additional rights shares applied for under the additional application form (i.e. 21,816,086 rights shares).