01901.HK announced that all the prerequisites set out in the underwriting agreement have been met and that the underwriter has not terminated the underwriting agreement before the final termination time limit. As a result, the underwriting Agreement and the Rights issue are becoming unconditional at 04:00 on Wednesday, 13 April 2022.

In conclusion, a total of 8 notices of provisional quota and valid acceptance and applications under the additional application form relating to a total of 38335947 rights issue shares have been received, equivalent to about 19.17% of the total number of 200000000 rights issue shares available for subscription under the rights issue.

Based on the above results, the undersubscription of the rights issue is 161664053 rights issue shares, equivalent to about 80.83% of the total number of 200000000 rights issue shares available for subscription under the rights issue.

Due to undersubscription of the Rights shares, all four valid additional applications have been accepted and a total of 8523339 additional Rights shares will be allotted and issued to the relevant applicants. Therefore, no refund cheque will be sent for all or some of the unaccepted additional rights issue shares.

Due to the undersubscription of the rights issue and in accordance with the terms of the underwriting agreement, the underwriter has urged the subscribers to subscribe for 161664053 rights issue shares on a dedicated basis, equivalent to about 80.83% of the total number of 200000000 rights issue shares available under the rights issue.

The total amount of proceeds from the rights issue is approximately HK $100 million, while after deducting professional fees and all other related expenses, the net income from the rights issue is estimated to be about HK $95.9 million.

Trading in the fully paid Rights shares is expected to commence on the Stock Exchange at 09:00 on Monday, 25 April 2022.