TASTY CONCEPTS (08096) has announced that the company received a total of six valid applications and acceptances under the provisional allotment letters, involving a combined 97.5721 million rights shares, representing approximately 33.8% of the total rights shares available for subscription under the rights issue.
The rights issue will not generate fractional entitlements for rights shares. Based on the subscription results, 191 million unsubscribed rights shares (placing shares), equivalent to approximately 66.2% of the total rights shares available for subscription under the rights issue, are subject to compensation arrangements. As of the record date, there were no excluded shareholders, and therefore no unsubscribed rights shares from excluded shareholders.
By 6:00 p.m. on Tuesday, July 28, 2026, which was the final deadline for the placing agent to place the unsubscribed rights shares, a total of 191 million placing shares, representing approximately 39.73% of the company's issued shares immediately following the completion of the rights issue, had been successfully placed to no fewer than six placees at a placing price of HK$0.10 per placing share, with no premium over the subscription price.
Consequently, the net proceeds per placing share under the compensation arrangements amounted to zero, with no net proceeds realized, and non-acting shareholders will not receive any net proceeds. Based on the subscription results of the rights issue and the placing results of the compensation arrangements, the rights shares to be allotted and issued total 289 million shares, representing 100% of the total rights shares available for subscription under the rights issue. The total gross proceeds raised from the rights issue, including the placing, amount to approximately HK$28.9 million, before deducting expenses.
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