Huitao Group (08238) announced that the conditions stipulated in the placement agreement were not fulfilled on November 5, 2025 (i.e., ...)
Zhitong Finance APP reported that Huitao Group (08238) announced that as the conditions set out in the placing agreement were not fully satisfied on or before November 5, 2025 (being the long stop date), the placing agreement has become null and void, and the proposed placing will not proceed. All rights, obligations, and liabilities of the contracting parties will immediately cease and terminate, and the placing agent will be released and discharged from its responsibilities under the placing agreement. No contracting party may make any claims against other contracting parties in respect of the placing, except for any prior breaches and/or any rights or obligations that may have arisen under the placing agreement prior to such termination.
The Board believes that the invalidation of the placing agreement does not have any material adverse impact on the group’s business, operations, and financial condition.
