Summary by Futu AI
Ren Tek Resources Holdings Limited (the “Company”) announced that on 23 April 2024 a new distribution of shares was completed for the successful distribution of 37,627,200 shares at a price of HK$0.201 per share to no less than six independent third party holders. The distribution accounted for approximately 16.67% of the Company's issued share capital upon expansion and increased the Company's total share capital to 225,763,200 shares. The net proceeds from the divestiture will be approximately HK$7,400,000, of which approximately 89% will be used for working capital of a potential new public works construction project and the remainder will be used for the Group's general operating capital. Following the completion of the divestiture, Max Premier Limited's shareholding was reduced from 26.35% to 21.96%, and the new underwriter's holding was 16.67%. As a result of this change in the shareholding structure of the Company, Mr. Zhao Chuan Wing has also adjusted the proportion of shares held by Max Premier Limited.