HSC Resources fully utilises HK$18.52 million placing proceeds for expansion, debt repayment and working capital

Bulletin Express04-24

HSC Resources (01850) released a supplemental announcement confirming that the HK$18.52 million net proceeds raised from a share placing completed on 16 May 2024 have been entirely deployed in line with the original plan by 30 April 2025.

The placing involved 28.80 million new shares issued at HK$0.67 each through a best-effort arrangement with an independent placing agent. The transaction aimed to broaden the shareholder base, enhance share liquidity and strengthen the Group’s balance sheet.

Proceeds allocation and utilisation: • HK$11.00 million (59.4%) funded business expansion initiatives. • HK$3.00 million (16.2%) repaid shareholder loans. • HK$4.52 million (24.4%) supplemented general working capital.

Management reported no variance between the intended and actual application of funds, and no unutilised balance remained at the financial year-end. All other disclosures in the 2025 Annual Report remain unchanged.

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