PAK TAK INT'L(02668): High concentration of equity.

PAK TAK INT'L (02668) announces that the company has noted a notice issued by the Securities and Futures Commission ("SFC") on September 16, 2024 ("SFC Notice"). As disclosed in the SFC Notice, the SFC recently conducted an inquiry into the company's shareholding distribution. The results of the inquiry showed that as of September 4, 2024, 25 shareholders collectively held 3.483 billion shares of the company, equivalent to approximately 74.41% of the issued shares. Including the 980 million shares held by one major shareholder of the company (accounting for approximately 20.94% of the issued shares), this amounted to approximately 95.35% of the issued shares. Therefore, the company only had 217 million shares (approximately 4.65% of the issued shares) held by other shareholders. The SFC Notice further stated that: (a) The closing price of the shares had increased by approximately 1941.7% from HK$0.048 on December 1, 2023, to HK$0.980 on September 4, 2024; (b) After the close of trading on December 1, 2023, the company announced the completion of a placement, issuing a total of 780 million new shares at HK$0.019 per share (representing approximately 16.67% of the enlarged issued share capital at that time) to no fewer than six placing agents; (c) After the close of trading on March 15, 2024, the company issued a profit warning, expecting to incur an expanded loss for the year ended December 31, 2023. After the close of trading on March 28, 2024, the company announced its annual results for the year ended December 31, 2023, with shareholders' equity attributable losses of approximately HK$201.7 million, compared to HK$14.3 million for the year ended December 31, 2022; (d) After the close of trading on August 29, 2024, the company announced its interim results, with shareholders' equity attributable losses of approximately HK$36.8 million for the six-month period ended June 30, 2024, compared to HK$74.1 million for the same period in 2023; and (e) On September 13, 2024, the share price closed at HK$0.485, an increase of approximately 910.4% from the closing price of HK$0.048 on December 1, 2023. Based on the information available and after making all reasonable inquiries regarding the directors' affairs, the directors confirm that as of September 4, 2024, and the date of this announcement, at least 25% of the company's issued shares are held by the public, and the company is able to comply with the public float requirements under the listing rules of the Stock Exchange.