GAODI HOLDINGS (01676) announced that on March 11, 2026, after trading hours, the company entered into a placement agreement with a placing agent. Under the agreement, the placing agent conditionally agreed to act on a best-efforts basis to place up to 4,665,400 shares at a price of HK$0.23 per share to no fewer than six placees, all of whom and their ultimate beneficial owners are independent third parties.
Assuming no change in the company's issued share capital between the date of the announcement and completion, the maximum of 4,665,400 placement shares represents approximately 1.81% of the company's existing issued share capital of 258 million shares as of the announcement date, and about 1.77% of the enlarged issued share capital after the allotment and issuance of all placement shares. The total nominal value of the maximum number of placement shares under the placement is HK$466,500.
The placement price of HK$0.23 per share represents a premium of approximately 4.55% over the closing price of HK$0.22 per share on the Hong Kong Stock Exchange on the date of the placement agreement, which was the last trading day.
Assuming all placement shares are fully subscribed, the net proceeds from the placement, after deducting placing commissions and other related expenses, are estimated to be approximately HK$960,000. This implies a net placing price of about HK$0.21 per share. The board intends to use the entire net proceeds as general working capital for the group to support its ongoing development and existing business needs.
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