CHI KINGSTONE (01380) at a premium of approximately 72.41% totaling 40 million shares in settlement shares.

CHI KINGSTONE (01380) announced that on November 11, 2024, the company reached a comprehensive and final settlement with AOF I regarding the dispute. The company (as the issuer) has conditionally agreed to allot and issue, while AOF I (as the subscriber) has conditionally agreed to subscribe for a total of 40 million new shares (settled shares) at a subscription price of HK$0.20 per settled share. Assuming that the company's issued share capital remains unchanged from the date of this announcement to the date of the issuance of the settled shares (excluding the allotment and issuance of settled shares), the 40 million settled shares represent approximately 15.69% of the company's enlarged issued share capital after the allotment and issuance of settled shares. The subscription price of HK$0.20 per settled share represents a premium of approximately 72.41% over the closing price of HK$0.116 per share reported on the Stock Exchange on November 11, 2024 (the day the company reached a comprehensive and final settlement with AOF I). As of the date of this announcement, the company owes AOF I approximately HK$8.57 million according to the default notice. Upon the satisfaction of the conditions precedent, the total amount raised from the subscription and the net amount raised (after deducting relevant professional fees and all related expenses) will be approximately HK$8 million and around HK$7.8 million, respectively. Based on this benchmark, the net issue price will be approximately HK$0.195 per settled share.