Gelonghui, May 20, 丨 Mandi Technology Co., Ltd. (01400.HK) announced that on May 20, 2024, the company signed a placement agreement with the placement agent. According to this, the company appointed the placement agent as its agent to do its best to induce no less than six undertakers to subscribe for up to 300 million shares at a price of HK$0.10 per placement share in accordance with the terms of the placement agreement and subject to its conditions. Placed shares will be distributed and issued in accordance with a general mandate.

The placement price is equivalent to the closing price of HK$0.10 per share as reported on the Stock Exchange on May 20, 2024 (the last trading day); the placed shares account for approximately 7.69% of the company's issued share capital after the expansion of allotted and issued placed shares. The net proceeds from the placement (net of placement commissions payable to pre-placement agents and other expenses arising from the placement) are expected to be approximately HK$29.4 million. The Company intends to allocate the net proceeds from the placement as the Group's general working capital.