Zhongtong Finance App News, V&V tech (08113) announced that as all the conditions related to the rights issue stipulated in the Articles of Association have been met, the rights issue became unconditional at exactly 4:00 pm on Tuesday, November 12, 2024. At exactly 4:00 pm on Friday, November 8, 2024, which was the deadline for accepting the rights issue shares, paying the subscription price, and applying for additional shares, a total of 6 valid acceptances of provisional quotas under 6 provisional quota notices were received, involving a total of 0.295 billion shares of rights issue shares, equivalent to approximately 60.84% of the total number of shares available for subscription under the rights issue of 0.485 billion shares; and a total of 4 valid applications for additional shares under 4 additional subscription forms were received, involving a total of 0.204 billion shares of additional shares, equivalent to approximately 42.10% of the total number of shares available for subscription under the rights issue of 0.485 billion shares.

According to commitments, Times Investment and Dr. Yan separately subscribed for 0.224 billion shares of rights issue shares and 43.1229 million shares of rights issue shares to be provisionally issued to them according to the provisional quota notices.

In summary, a total of 10 valid acceptances and applications under provisional quota notices and additional application forms have been received, involving a total of 0.499 billion shares of rights issue shares, equivalent to approximately 102.94% of the total number of shares available for subscription under the rights issue of 0.485 billion shares.

Based on the above results, there was an oversubscription of 14.2642 million shares of rights issue shares, equivalent to approximately 2.94% of the total number of shares available for subscription under the rights issue of 0.485 billion shares.

Given the valid acceptance of the provisional quotas under the provisional quota notices mentioned above, 0.19 billion shares of rights issue shares can be subscribed based on the additional application forms.

The total amount raised by the rights issue is approximately 24.2 million Hong Kong dollars, while the net proceeds from the rights issue after deducting expenses are approximately 23.4 million Hong Kong dollars.