Summary by Futu AI
TL Natural Gas Holdings Limited (the “Company”) announces that it has completed the distribution of new shares under general authorization on January 30, 2024. THIS DISTRIBUTION WAS OPERATED BY CNI SECURITIES GROUP ACTING AS A DISTRIBUTING AGENT. 5,940,000 NEW SHARES WERE SOLD AT A PRICE OF HK$0.658 PER SHARE AND RAISED A TOTAL OF HK$3,908,520. NET PROCEEDS OF APPROXIMATELY HK$3 MILLION AFTER DEDUCTING RELATED COMMISSIONS AND EXPENSES WILL BE USED TO INVEST IN RENEWABLE ENERGY-RELATED BUSINESSES AND THE GROUP'S GENERAL OPERATING CAPITAL. Upon completion of the divestiture, Hung Shing Industries Limited and Yung Shing Industries Limited will hold approximately 30.97% and 10.59% of the Company's shares, respectively, and the new underwriters will hold approximately 3.24% of the shares and will not be the Company's major shareholders. The members of the Board of Directors include Executive Directors Mr. Liu Wing Shing, Mr. Liu Wing Keung and Mr. Liu Wing Sheng, as well as Independent Non-Executive Directors Ms. Lo Hung Yu, Ms. Tsang Lai and Mr. Yang Chun Yu.