Hatcher Group (8365) Revises Use of Placing Proceeds and Updates Completion Timeline

Bulletin Express11-21

Hatcher Group (8365) issued a supplemental announcement regarding its placing of new shares under a general mandate. The company disclosed that the expected net proceeds of approximately HK$29.6 million will now be allocated in three equal portions of around HK$9.87 million each. One portion will be used to fund business development initiatives, including fin-tech and related services; another portion will expand the corporate finance team to handle mandates such as international M&A and IPOs; and the remaining portion will serve as general working capital, primarily covering expenditures such as office relocation costs, renovation, and fit-out.

Under the original plan, HK$23.68 million (80%) was intended for general working capital, while HK$5.92 million (20%) was allocated to marketing and investor relations. In this revision, funds for marketing and investor relations have been removed. The company aims to utilize the business development and corporate finance expansion funds within 12 months of the placing’s completion, and the general working capital portion within 6 months. The transaction is expected to close on or before 12 December 2025, subject to fulfillment of the relevant conditions, and may or may not proceed as planned.

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