New Sparkleroll (00970) announced that on July 19, 2024, the company and the subscribers entered into two subscription agreements respectively...
New Sparkleroll (00970) announced that on July 19, 2024, the company and the subscribers respectively entered into two subscription agreements, the subscribers conditionally agreed to subscribe and the company conditionally agreed to allot and issue a total of 74.8794 million subscription shares at a subscription price of HKD 0.64 per subscription share.
The subscription shares represent about 15.97% of the total number of issued shares after the completion of the relevant issue and allotment of the subscription shares. The subscription price of HKD 0.64 per subscription share represents a discount of approximately 18.99% to the closing price of HKD 0.79 per share as quoted on the Stock Exchange of Hong Kong on July 19.
The net proceeds from the subscription of approximately HKD 46.4 million in total will be applied as follows: approximately HKD 8 million for the litigation expenses arising from the relevant legal proceedings, approximately HKD 25.4 million for potential investments when opportunities arise and approximately HKD 13 million for the general working capital of the Group. The net price per subscription share is approximately HKD 0.62.