China Hong Kong Energy (00931) plans to place 50 million new shares at a discount of about 6.5% to raise about HK$14.3 million

According to Zhitong Finance App, China Hong Kong Energy (00931) announced that on September 14, 2026 (after the trading session on the Stock Exchange), the Company entered into a subscription agreement with Ms. Huang Jiajia (the subscribing party). According to this, under the terms and conditions contained in the subscription agreement, the subscribing party has conditionally agreed to subscribe, and the Company has already conditionally agreed to allocate and issue a total of 50 million new shares. The subscription price is HK$0.290 per share.

Assuming that there is no change in the total number of issued shares (excluding issued subscription shares) from the date of this announcement, the number of subscribed shares is equivalent to approximately 0.61% of the total number of issued shares on the date of this announcement, and approximately 0.61% of the total number of issued shares expanded immediately after completion. The subscription price of HK$0.290 per subscription share is equivalent to a discount of approximately 6.5% of the closing price of HK$0.310 per share (equal to the closing purchase price per share) as reported on the Stock Exchange on September 14, 2026.

The total proceeds and net proceeds from the issuance of subscription shares are estimated to be approximately HK$14.5 million and HK$14.3 million respectively. The Company intends to use the net proceeds from the subscription (after deducting commissions and estimated expenses) for the Group's general working capital, including rent expenses, staff costs, professional expenses and other general administrative and operating expenses.