Gelonghui May 20 δΈ¨ Mandi Technology Shares (01400casinoslotsonline.HK) Announcementcasinoslotsonline, on May 20, 2024casinoslotsonline, the Company entered into a placing agreement with the placing agent, pursuant to which the Company appointed the placing agent as its agent to use its best efforts to procure a subscription of 0 per placing share by not less than six placees in accordance with the terms of the placing agreement and subject to its conditions.casinoslotsonline. 10 Hong Kong dollars to subscribe for up to 300 million placing shares. The placing shares will be allotted and issued in accordance with general mandate.
The placing price is equivalent to the closing price of HK$0.10 per share quoted on the Stock Exchange on May 20, 2024 (the last trading day); the placing shares account for approximately 7.69% of the company's issued share capital as enlarged by the allotment and issue of placing shares. It is expected that the net proceeds from the placing (net of placing commissions payable to the placing agent and other expenses incurred by the placing) will be approximately HK$29.4 million. The company intends to allocate the net proceeds from the placing as general working capital of the group.