PLATT NERA (01949.HK) announced on June 14th that the company has signed a placement agreement with a placement agent on June 14, 2024. According to the agreement, the placement agent (as the company's agent) conditionally agreed to make no less than six underwriters (including their ultimate beneficial owners and persons acting in concert, who must be independent third parties) to subscribe for up to 80 million shares of placement shares at a placement price of HKD 0.375 per share to the best of their efforts.

The placement shares represent approximately 11.76% of the total issued shares after the issuance and placement of the shares (assuming that the total issued shares have not changed other than the issuance and placement of the shares from the date of the announcement to the completion date). The placement price of the placement shares is HKD 0.375 per share, which is a discount of approximately 18.48% from the closing price of HKD 0.46 per share of the shares on the Hong Kong Stock Exchange on the date of the placement agreement. The expected net proceeds from the placement is approximately HKD 28.8 million, which is equivalent to a net issue price of approximately HKD 0.36 per share of the placement shares after deducting the placement commission and other related expenses (including professional fees).