HATCHER GROUP (08365) plans to make a rights issue on a basis of "1 offer for every 3 shares held"

HATCHER GROUP (08365) Announcement: The company proposes a rights issue at a subscription price of HK$0.250 per share, offering 3 rights shares for every 1 share held as at the record date. A maximum of 128 million rights shares will be issued (assuming no new shares are issued or repurchased before the record date), raising a total amount of up to approximately HK$32.1 million (before expenses) if all the rights are fully subscribed; or up to 132 million rights shares will be issued (assuming no new shares are issued or repurchased before the record date, except for those issued in accordance with the exercise of outstanding share options), raising a total amount of up to approximately HK$33 million (before expenses) if all the rights are fully subscribed. The net proceeds from the rights issue are estimated to be not more than approximately HK$31.1 million (assuming no change in the number of issued shares as at the record date); or approximately HK$32 million (assuming no change in the number of issued shares as at the record date, except for those issued in accordance with the exercise of outstanding share options). The company intends to use the proceeds from the rights issue for investment in the online gaming industry, expanding operations in the industry, and as working capital for the group for the next 12 months.