Gelonghui, December 18 - STARGLORY HLDGS (08213.HK) announced that on December 18, 2024, the company entered into a subscription agreement with each subscriber, under which each subscriber conditionally agreed to subscribe, and the company conditionally agreed to allocate and issue a total of 34,285,713 new shares at a subscription price of HKD 0.35 per share.

The subscription price of HKD 0.35 per share represents a discount of approximately 12.50% compared to the closing price of HKD 0.40 per share reported on the Stock Exchange on the date of the subscription agreement; the total of 34,285,713 subscription shares accounts for about 6.58% of the company's existing issued share capital as of the date of this announcement; the net proceeds from the subscription (after deducting other expenses related to the subscription) will be approximately HKD 11.7 million. It is expected that the net proceeds from the subscription will be used for the company's operations and new business development.