Summary by Futu AI
HSC Resources (HSC Resources) announced on 30 April 2024 that it has reached a second supplemental agreement with distribution agent Matrix Securities Limited on the distribution of new shares. Under the agreement, the distribution price was revised from the original HK$0.56 per share to HK$0.67 and the closing date for the completion of the distribution matter will be postponed to 16 May 2024. The Company expects to raise a total of approximately HK$19,296,000 and a net amount of approximately HK$18,517,000 if all of its shares of up to 28,800,000 shares are distributed. Proceeds will be used to repay shareholder loans, expand the business and as general working capital. The Board considers that this divestment is an appropriate option for raising funds for the Company compared to other financing methods and helps to improve its financial position and expand its shareholder base. Shareholders and potential investors should note that completion of the allotment is still subject to pre-condition and is not necessary.
