LITIAN PICTURES (09958) has announced that on April 10, 2026, the company entered into a placement agreement with a placing agent. The agent conditionally agreed to act on a best-efforts basis to place up to 68 million new shares to no fewer than six placees at a price of HK$0.156 per share. Assuming no change in the company's issued share capital from the date of the announcement until completion, the maximum 68 million placement shares represent approximately 15.74% of the existing issued share capital of 432 million shares, and about 13.6% of the enlarged issued share capital after the placement. The total nominal value of the placement shares will be HK$680,000.
The placement price of HK$0.156 per share represents a discount of approximately 15% to the closing price of HK$0.183 per share on the last trading day prior to the agreement date, and a discount of about 16.82% to the average closing price of HK$0.187 per share over the five consecutive trading days immediately preceding the last trading day.
Assuming all placement shares are successfully placed, the net proceeds from the placement, after deducting commissions and related expenses, are estimated to be approximately HK$10.61 million. This equates to a net price of about HK$0.152 per share. The company's board intends to use the net proceeds for the group's general working capital purposes.
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