WAI HUNG GROUP (03321): The placement price should be HKD 0.0204 per share. Trading will resume in the afternoon on September 17th.

WAI HUNG GROUP (03321) announces that the subscription price should be HK$0.0204 per share, which was determined after fair negotiations between the company and the subscription agent, taking into account the prevailing market price of the shares on the Stock Exchange at the time. The subscription price represents a discount of 18.4% from the price of HK$0.025 per share reported on the Stock Exchange on the date of the subscription agreement, and a discount of approximately 19.0% from the average closing price of around HK$0.0252 per share over the last five consecutive trading days prior to the date of the subscription agreement. As a result, the maximum total proceeds from the subscription will be approximately HK$2.06 million. The maximum net proceeds from the subscription (after deducting commission payable to the subscription agent, professional fees, and other related costs and expenses) will be approximately HK$2.03 million, with a net price per share of around HK$0.0201. The company intends to use the net proceeds from the subscription for general working capital of the group. At the company's request, trading of the company's shares has been suspended on the Stock Exchange since 17 September 2024 at 9:00 am, and an application has been made to resume trading from 17 September 2024 at 1:00 pm.