NUR Holdings to Raise HK$86.14 Million via 112 Million-Share Placement under General Mandate

Bulletin Express05-28

National United Resources Holdings Limited (NUR Holdings) has signed three separate conditional subscription agreements on 28 May 2026 to issue an aggregate 112.00 million new shares at HK$0.77 each. The placements will be executed under the company’s existing general mandate, eliminating the need for additional shareholder approval.

The new shares equate to approximately 19.87% of NUR Holdings’ 563.76 million shares in issue and 16.57% of the enlarged share base of 675.76 million shares post-completion.

Proceeds: • Gross proceeds: HK$86.24 million • Net proceeds: HK$86.14 million (net price c.HK$0.769 per share)

Planned allocation of funds: • 40% (c.HK$34.46 million) for trading operations, including frozen and fresh products • 40% (c.HK$34.46 million) for investment opportunities • 20% (c.HK$17.23 million) for general working capital

Subscribers and post-deal stakes: • Zheng Kaibin: 27.00 million shares (4.00% post-issue) • Meng Lufang: 27.00 million shares (4.00% post-issue) • Fu Shanghui: 58.00 million shares (8.58% post-issue)

Subscription terms: • Price represents a 10.47% discount to the 28 May closing price of HK$0.86 and a 9.41% discount to the five-day average closing price of HK$0.85. • Subscribers must place refundable deposits equal to the full subscription amounts by 11 June 2026. • Completion is conditional on Stock Exchange listing approval and other regulatory consents by 18 June 2026. • Each subscription can complete independently; failure to meet conditions triggers refund of deposits.

Post-transaction ownership: • Chairman Ji Kaiping’s stake will decline from 17.25% to 14.39%. • Public float will fall from 59.41% to 49.56%, still above the 25% regulatory threshold.

Background and rationale: NUR Holdings focuses on car-rental and commuter-bus services in mainland China. Management expects the fresh capital to enhance liquidity, support expansion into trading activities, fund future investments, and bolster working capital.

Recent capital market activity: In July–August 2025 the company raised HK$49.80 million via a 125 million-share placement at HK$0.40 each, primarily to settle a promissory note related to the City Gear acquisition and for general working capital.

Shareholders and potential investors are advised that the subscriptions remain subject to the stated conditions and may not proceed.

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