SEAZEN (01030) announced that on February 5, 2026 (before the trading session of the Stock Exchange), the seller, the company, and the placing agent entered into a placing and subscription agreement.
Pursuant to the agreement: (a) the seller agreed to appoint the placing agent as an agent, and the placing agent agreed, severally, to use its best efforts to procure no fewer than six buyers to purchase the sale shares (amounting to 198 million shares) at the placing price of HK$2.39 per share; and (b) the seller agreed to subscribe, and the company agreed to allot and issue to the seller subscription shares (equal to the number of sale shares actually sold by the seller under the agreement) at a subscription price equivalent to the placing price.
The sale shares represent approximately 2.80% of the company's issued share capital as of the date of this announcement, and approximately 2.73% of the company's issued share capital as enlarged by the allotment and issue of the subscription shares (assuming no change in the issued share capital of the company from the date of this announcement up to the completion of the subscription, except for the issuance of the subscription shares).
The placing price of HK$2.39 per share (excluding all brokerage commissions, Hong Kong stamp duty, SFC and AFRC transaction levies, and SEHK trading fees) represents a discount of approximately 14.95% to the closing price of HK$2.81 per share as quoted on the Stock Exchange on February 4, 2026.
The gross proceeds and net proceeds (after deducting all related costs and expenses) expected to be received by the company from the subscription are approximately HK$473 million and HK$469 million, respectively.
The company intends to use the net proceeds from the subscription for the future development of the group, repayment of the company's debts maturing in the future, and for the group's general working capital purposes.
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