Graphex Group (06128) issued a statement that the conditions listed in the subscription agreement for the issuance of new shares under general authorization have been met and the delivery has been completed on June 28, 2024.

A total of 43,689,400 new shares were issued and distributed based on the subscription issue, accounting for approximately 4.71% of the company's existing issued share capital before the delivery, and approximately 4.50% of the expanded issued share capital after the delivery.

Although the subscription issue will not generate any cash income for the company, it can offset and eliminate the total expenses of HKD 5.461 million owed by the subscribers, as well as improve the company's overall liquidity position.