According to the announcement released by SK Target (08427), after trading hours on June 27, 2024, the company has entered into a subscription agreement with subscribers. According to the agreement, the company will issue and distribute a total of 27.2527 million subscription shares at the subscription price, and the subscribers will subscribe for these shares at the subscription price. The subscription price is a discount of about 11.1% from the closing price reported on the last trading day on the HKEX, which is HKD 0.09 per share.

It is expected that the net amount of the proceeds from the subscription (after deducting relevant professional fees and expenses) will be approximately HKD 2.1 million, and the net subscription price per share of subscription shares will be approximately HKD 0.0771. The company plans to use the net proceeds from the subscription to repay the acceptances and reduce interest expenses. The directors believe that the subscription will enable the Group to raise funds to strengthen its financial position.