China Strategic Technology: HK$49.10 million Share Placement Aborted After Conditions Not Met

Bulletin Express09-29

China Strategic Technology Group Limited announced that its planned placement of up to 163.68 million new shares at HK$0.300 each—potentially raising HK$49.10 million—has lapsed.

The company confirmed that the conditions precedent set out in the placing agreement were not fulfilled by the revised long stop date of 29 September 2026. As a result, the agreement has ceased, and no further obligations remain between the parties, except for any existing breaches prior to the lapse.

Management stated that the termination is not expected to exert any material adverse impact on the group’s overall operations or financial position.

The proposed placement had been unveiled on 18 August 2026 and updated on 8 September 2026, with the shares to be issued under the general mandate. Gu Lin, Chairman and Executive Director, signed the announcement dated 29 September 2026.

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