Zhitong Finance App News, Building Block Group (08187) issued an announcement. On March 8, 2024, the company entered into a placement agreement with the placement agent. The company conditionally agreed to place a maximum of 21.6691 million shares through the placement agent to no less than 6 undertakers who are or their ultimate beneficial owners are independent third parties. The placement price is HK$0.201 per share. The placement price is HK$0.201 per share. The placement price of the shares was discounted 10.27% of the shares on the closing price of HK$0.224 per share on the date of the placement agreement; It will be awarded according to the directors' annual general meeting The general authorization granted is to distribute and distribute. Shareholders' approval is not required for allotment and issuance of shares for sale.

Assuming that there is no change in the issued share capital of the company from the date of this announcement to the date of completion of the placement, the placed shares are equivalent to about 16.67% of the total number of issued shares after all allotments and expansion of the issued placed shares. The total face value of the highest number of shares to be placed under the placement items will be HK$4.3338 million.

Assuming that all the placed shares are successfully placed by the placement agent, the maximum net proceeds from the placement are estimated to be approximately HK$4.1 million. The Company intends to use the net proceeds from the placement to supplement the Group's general working capital and investment opportunities.