Summary by Futu AI
Arta Techfin announced on October 29, 2024, that its controlling shareholder Radiant Alliance has exercised conversion rights, converting the second loan into shares in full. The total amount of the loan is HKD 40,000,000, and the number of shares after conversion is 2,478,766,139 shares. This will increase Arta Techfin's issued shares to 21,621,946,019 shares, with Radiant Alliance's shareholding rising to approximately 51.0%. At the same time, Radiant Alliance has reached a share transfer agreement with the buyer to sell 300,000,000 shares, with the transfer expected to be completed before issuing new shares to maintain compliance with listing rules on public shareholding. The board of directors stated that these changes will not have a significant adverse impact on the company's financial condition and operation.