Lenovo Group Limited ("the Company") announced on July 15, 2024, the proposal to issue 1,150,000,000 subscription warrants pursuant to a special mandate, at an issue price of HKD 1.43 per subscription warrant. The issuance is part of a strategic business deal aimed at raising funds to expand operations in the Middle East and Africa (MEA) region, including setting up production facilities, regional headquarters, and sales and distribution centers. Mr. Yang, the Chairman of the Board, CEO and Executive Director of the Company, will act as the initial subscriber of the subscription warrants and has agreed to subscribe for 220,000,000 subscription warrants, representing approximately 19.13% of the total number. The remaining 930,000,000 subscription warrants will be sold to third-party investors and members of the Company's management...Show More

Lenovo Group Limited ("the Company") announced on July 15, 2024, the proposal to issue 1,150,000,000 subscription warrants pursuant to a special mandate, at an issue price of HKD 1.43 per subscription warrant. The issuance is part of a strategic business deal aimed at raising funds to expand operations in the Middle East and Africa (MEA) region, including setting up production facilities, regional headquarters, and sales and distribution centers. Mr. Yang, the Chairman of the Board, CEO and Executive Director of the Company, will act as the initial subscriber of the subscription warrants and has agreed to subscribe for 220,000,000 subscription warrants, representing approximately 19.13% of the total number. The remaining 930,000,000 subscription warrants will be sold to third-party investors and members of the Company's management through a private placement. If there are insufficient subscriptions from members of the management, Mr. Yang has agreed to subscribe for up to an additional 330,000,000 subscription warrants. The issue of subscription warrants requires approval by independent shareholders at a general meeting and must comply with the listing rules of The Stock Exchange of Hong Kong Limited ("HKEX"). The relevant documents for the general meeting are expected to be sent to shareholders on or before July 31, 2024. After the issuance of the subscription warrants, it is expected to raise approximately HKD 1.645 billion (approximately USD 0.21 billion), which will be used to support business expansion and related capital expenditures in the MEA region. In addition, if all the subscription warrants are exercised in full, it will bring an additional approximately USD 1.8 billion in capital to the Company, which will be used to further expand business and invest in research and development ("R&D") and artificial intelligence ("AI").