Gelonghui (MIG International Holdings (01247.HK) announcement)The Board is pleased to announce that all the conditions set out in the placing Agreement have been fulfilled and that the placing has been completed on 12 May 2022 in accordance with the terms and conditions of the placing Agreement.

A total of 23.616 million placing shares have been successfully placed to not less than six Placees (who and their ultimate beneficial owners are not connected persons of the Company and its connected persons) at a placing price of HK $0.58 per placing share. To the best of the Directors' knowledge, knowledge and belief having made all reasonable enquiries, (I) each of the Placees is an independent third party; and (ii) none of the Placees became substantial shareholders upon completion of the placing.