Gelonghui, March 5, 丨 Global Strategy Group (08007.HK) announced that on March 5, 2024, the company entered into a placement agreement with the placement agent. According to this, the company conditionally agreed to place a maximum of 91,172,000 shares through the placement agent to no less than six (6) undertakers whose ultimate beneficial owner is an independent third party, at a placement price of HK$0.068 per share. The placement of shares will be distributed and issued in accordance with the general authorization granted by the directors at the annual general meeting of shareholders. Shareholders' approval is not required for allotment and issuance of shares for sale.

The placement price of HK$0.068 per share is approximately 18.07% off of the closing price of HK$0.083 per share as reported on the date of the placement agreement; the placed shares are equivalent to 20% of the total number of issued shares currently issued on the date of the announcement; and (ii) about 16.67% of the total number of issued shares after all allotments and issuance of the expanded placement shares. Assuming that all the shares are successfully placed by the placement agent, the total amount of the maximum proceeds from the placement is estimated to be about HK$6.2 million, while after deducting placement commissions, professional fees and all related expenses that the company may bear, the maximum net proceeds from the placement are estimated to be approximately HK$5.6 million.