COUNTRY GARDEN (02007) announced that on December 30, 2025, the company issued 135.6 million shares to GLAS HK at an issue price of HK$0.40 per share under a general mandate. These shares were designated as Coordinating Committee working expense shares. At the company's instruction, GLAS HK sold 50 million of these shares on the date of this announcement. The net proceeds from this sale, after deducting all associated costs, fees, expenses, and taxes, amounted to HK$17.5168 million (approximately US$2.2429 million). These funds will be paid in full to the Coordinating Committee to settle its working expenses.
Based on the current share price, the company estimates that the net proceeds from selling the remaining 85.5914 million Coordinating Committee working expense shares, after deducting relevant costs, will be insufficient to fully cover the committee's expenses. Since the net proceeds from the sale of these shares are expected to fall short of the total amount required, the Board resolved on March 9, 2026, to approve the allotment and issuance of an additional 36 million shares to GLAS HK under the general mandate. These additional shares, issued at a price of HK$0.30 per share, will also be used for Coordinating Committee working expenses. Together with the previously issued shares, they are collectively referred to as the Coordinating Committee working expense shares under the general mandate.
GLAS HK will proceed to sell the additional shares as soon as reasonably practicable, with the net proceeds applied to settle the outstanding Coordinating Committee working expenses.
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