V&V TECH (08113) rights issue became unconditional on November 12th.

V&V TECH (08113) announces that all the conditions related to the rights issue as specified in the prospectus have been fulfilled, and the rights issue became unconditional on November 12, 2024 (Tuesday) at 4:00 pm. By the deadline of 4:00 pm on November 8, 2024 (Friday) for accepting the rights shares and payment of the subscription price, as well as applying for additional rights shares and payment of the subscription price, a total of 6 valid acceptances of provisional allotment under 6 provisional allotment letters were received, involving a total of 295 million rights shares, equivalent to approximately 60.84% of the total number of rights shares available for subscription of 485 million shares; and a total of 4 valid applications for additional rights shares were received under 4 additional application forms, involving a total of 204 million additional rights shares, equivalent to approximately 42.10% of the total number of rights shares available for subscription of 485 million shares. In accordance with their commitments, Time Investment and Dr. Yan respectively subscribed for 224 million rights shares and 43.1229 million rights shares based on the provisional allotment letters. In summary, a total of 10 valid acceptances and applications were received under the provisional allotment letters and additional application forms, involving a total of 499 million rights shares, equivalent to approximately 102.94% of the total number of rights shares available for subscription of 485 million shares. Based on the above results, there was an oversubscription of 14.2642 million rights shares, equivalent to approximately 2.94% of the total number of rights shares available for subscription of 485 million shares. Due to the valid acceptances of the provisional allotment under the provisional allotment letters, 190 million rights shares are available for subscription based on the additional application forms. The total amount raised from the rights issue is approximately HK$24.2 million, and the net proceeds from the rights issue after deducting expenses is approximately HK$23.4 million.